ECB to tackle inflation target and tools in review

FILE PHOTO: The European Central Bank (ECB) logo is pictured before a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The European Central Bank will review its inflation target, policy tools and communication in a broad review of its strategy to reflect changed economic conditions since the financial crisis.

“The Governing Council will take stock of how the monetary policy strategy has supported the fulfillment of the ECB’s mandate under the Treaty over the years and consider whether any elements of the strategy need to be adjusted,” the ECB said.

“The quantitative formulation of price stability, together with the approaches and instruments by which price stability is achieved, will figure prominently in this exercise.”

Reporting By Francesco Canepa; Editing by Michelle Martin