ECB February 2026 post-mortem: stuck in a good place
Author
Arne Petimezas
Publication Date
February 5, 2026
In case you’re wondering, the ECB still thinks that its monetary policy stance is in a “good place” (read: stuck for the foreseeable future). There was absolutely nothing new in the Governing Council statement, opening statement, or press conference for that matter. As a matter of fact, President Lagarde managed to say absolutely nothing worthwhile or anything that would have moved markets. I hope that was part of the plan. They did shorten the press conference for good reason.
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