Minerva Investment Management Society

Macro Research Report

The 2021 ECB strategy review: analysis and implications

· Macro Research

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Summary

The ECB strategy review was announced on the 8th of July 2021.

There are two main innovations that the new strategy brings to the field: a specific inflation target of two per cent, which replaces the old double-key formulation, and a new inflation index, which will incorporate owner-occupied housing costs (HICP-OOH).

The macro research team focused on thoroughly analyzing what this means, the likely consequences that this change will have onto the markets and how the ECB will act during the next years, incorporating an analysis of how the new strategy has made the European Central Bank more dovish with respect to its past.

Authors

  • Pietro CucinottaHead of Macro Research
  • Tommaso BeverinaHead of Research Area
  • Ada EgilmezMacro Research Analyst
  • Michele TremoladaMacro Research Analyst
  • Xuan LiuMacro Research Analyst
  • Brunon MagolewskiMacro Research Analyst
  • Lara DenizMacro Research Analyst

Details

Published
7 December 2021
Division
Macro Research
Type
Macro Research Report
Pages
9
Authors
7

Cite this report

Minerva Investment Management Society (2021). The 2021 ECB strategy review: analysis and implications. Macro Research. https://minervaims.org/archive/the-2021-ecb-strategy-review-analysis-and-implications

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