International Monetary Fund Managing Director Christine Lagarde has been nominated as the next president of the ECB.Market moves suggest Lagarde is viewed as a "dove" who would maintain a low-rate policy.
Several market watchers have offered their take on the Lagarde appointment, with her lack of knowledge on monetary policy proving to be a recurring concern. In a note to clients Wednesday, Jim Reid of Deutsche Bank said Lagarde carried a "credibility risk" given her inexperience with the ECB's complicated array of tools designed to encourage stable economic growth.
Haefele said he still considered the IMF chief a "qualified candidate" but that her appointment didn't overly make Europe a more attractive place to invest. Pictet's Frederik Ducrozet issued a note Wednesday that focused squarely on the positive aspects of Lagarde's nomination.
It’s interesting how this group of friends divide the jobs between them. Qualifications means nothing. You just have to be part of the group. No wonder the majority of Brits want out.
lagarde is a criminal
Credibility risk it’s how paul frames the liquidity trap
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