, Columnist
The ECB Has More at Play — and Risk — Than the Fed
Draghi’s resignation in Italy, Putin’s energy brinksmanship, and Europe’s weaker banking system make the right rate hike a headache for Lagarde.
Draghi was on his way out then, too: Christine Lagarde taking over the European Central Bank in 2019.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
To get John Authers’ newsletter delivered directly to your inbox, sign up here.
Thursday brings the spotlight to Europe, and what could be a historically consequential meeting on monetary policy by the European Central Bank. It’s going to raise rates. But there is now some question over how much — 25 or 50 basis points? And the constraints have never looked tighter.