Lagarde perfectly capable of facing down her ECB sceptics

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CHRISTINE LAGARDE has taken the helm of the European Central Bank (ECB) at a time of rising scepticism over the power of monetary policy. Critics say that the central bank has no tools left to bring inflation back to its target of close to, but below, 2 per cent. The ECB is now a helpless bystander, they claim, as the power to foster a recovery sits squarely with elected governments.

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