By Francesco Canepa and Balazs Koranyi
FRANKFURT, Sept 30 (Reuters) – European Central Bank President Christine Lagarde set the scene on Wednesday for changing the ECB’s strategy to align it with that of the Federal Reserve, possibly including a commitment to let inflation overshoot after it has been low for too long.
Inflation in the euro zone has missed the ECB’s target, currently set “below but close to 2%” for years despite increasingly aggressive stimulus from the central bank, which has pushed its main interest rate below zero and bought more than 3 trillion euros ($3.51 trillion) worth of assets.
In her first update on the ECB’s ongoing review of its strategy, Lagarde also opened the door to giving the central bank less time to achieve its elusive goal.
The ECB is widely expected to follow in the footsteps of the Fed, which said last month it would aim