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European Central Bank sets new inflation target, eyes climate change in strategic overhaul
FILE PHOTO: The headquarter of the European Central Bank (ECB) is photographed in Frankfurt, Germany, January 22, 2021, REUTERS/Kai Pfaffenbach/File Photo
09 Jul 2021 08:53AM
(Updated:
09 Jul 2021 08:57AM)
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FRANKFURT: The European Central Bank (ECB) on Thursday (Jul 8) set a new inflation target and integrated climate change considerations into its monetary policy strategy, the first major overhaul of its goals and tools in almost two decades.
The bank will in future take into account companies' environmental credentials when considering whether an asset can qualify as collateral or be purchased by the Frankfurt institution.