EZA Briefing Note

27 January 2004

ECB shift in focus & potential for intervention to defend $1.30
The redesign of the European Central Bank’s monthly report is certainly one indication of the influence that new president Jean-Claude Trichet is gaining internally. What speaks volumes is not so much the new look, but the fact that a chapter on the external environment of the euro area actually precedes the analysis on monetary and financial developments.

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