Christine Lagarde: ECB policy is not on autopilot

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It is ridiculous to believe the European Central Bank’s policy is on auto-pilot and that it won’t change until a year-long review of the ECB’s strategy is completed, ECB President Christine Lagarde said on Friday.

“To think it’s autopilot, that’s ridiculous,” Lagarde said on Bloomberg TV. “There’s a forward guidance which is strong, which is setting a very clear timetable but it’s fact dependent. Let’s look at the facts, let’s look at how the economy evolves.”