Market moves suggest Lagarde is viewed as a 'dove' who would maintain a low-rate policy.
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.
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