Race to Replace Draghi Spurs ECB Calls for Fed-Style Rethink

The race to succeed Mario Draghi could end up producing not only a new European Central Bank president, but even a revamped mandate.

That’s a potential outcome from a review of the institution’s strategy called for by Olli Rehn, a contender for the job who is willing to shake things up in his attempt to stand out from the crowd of candidates. The Bank of Finland Governor wants a rethink of the ECB’s master plan for ensuring price stability, at a time when no amount of stimulus seems enough to boost inflation.