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ECB Has Messaging Problem as Lagarde-Lane Signals Muddy View

  • Markets see gaps between ECB president and her chief economist
  • Some officials worry that Lagarde’s credibility is at risk
Euro Bears Push Back Ahead Of ECB Virtual Rate Announcement
Photographer: Alex Kraus/Bloomberg
Updated on

The European Central Bank is struggling to make its intentions clear to investors at a critical juncture in its response to the coronavirus recession.

Economists and investors see mixed messages from the ECB’s top policy makers. Most important is a perceived disconnect between President Christine Lagarde’s press conferences after policy decisions, and blog posts by Chief Economist Philip Lane the following day.