The designated Head of the European Central Bank, Christine Lagrade, will, in the future, explain decisions to the Bank better. Also to digital currencies and climate change in the future play a greater role.
Christine Lagarde puts your goals in front of the economic and monetary Committee of the EU Parliament
In addition, Christine Lagarde mindfulness called the opposite of the effects of low interest rates in Europe. “We have to the negative consequences and side effects in keep an eye on,” said the 63-Year-old in the European Parliament in Brussels. The Concerns of the people would have to be observed. Therefore, you want to declare the decisions of the Central Bank better in the future. Market and financial actors would follow the steps already in Detail, it is to communicate any short-term disadvantages and long-term benefits of decisions. “I’m going to use a lot of time and energy,” she said.
The main objective of the ECB is price stability
The EU heads of state and heads of government had nominated the former Head of the International monetary Fund (IMF) in July as the successor to Mario Draghi head of the ECB. The official decision is expected to fall in October, after consultations with the European Parliament. The Central Bank based in Frankfurt am Main decides on the monetary policy for the Euro-zone, and determines, among other things, the benchmark interest rate for savers and borrowers is important.
Climate change is expected to play a larger role
The monetary authorities held the policy rate in the past years to a record low of zero percent. Banks will receive fresh money from the Central Bank at zero cost. Savings throw, but virtually no interest. You will continue the “loose monetary policies” of her predecessor, Draghi, said Lagarde. The measures taken by the Central Bank would have the economy in Europe since the financial crisis, to 2013 boost, the otherwise, two percent would be smaller, said Lagarde more. About eleven million new Jobs were created. You are committed to the core tasks of the ECB, the challenges of the future must be flexible in responding.
Facebook wants to introduce the cryptocurrency Libra – Christine Lagarde has no fear of contact
Among these challenges, the designated ECB-Head of currencies, climate change and the emergence of Digital. A question is whether Central banks should digital spend currencies, said Lagarde. Of the US digital giant Facebook had triggered in the past few months, with the announcement of its digital currency Libra with politicians and Central bankers restlessness. Libra is supposed to be to buy in the coming year, available to consumers and about with US dollars or euros. Facebook founder Mark Zuckerberg sees the currency especially for cross-border Transfers of advantage.
180 billion euros must be invested in climate-friendly
With a view to climate change, Lagarde said that climate risks would have to move to the center of financial stability. The development of green financial markets is not yet sufficiently advanced. Thus, Investments and financial products are meant to be, the 2015 closed-end Paris climate agreement in accordance. The European Union has set itself the target of reducing its greenhouse gas emissions by 2030 compared to 1990 to 40 percent. According to estimates, would have to be invested per year to about 180 billion euros in climate-friendly.
nob/qu (dpa, rtr)