This archive report was first published on 4 November 2019.
On her first day as European Central Bank chief, Christine Lagarde arrived in Frankfurt and announced plans to meet with staff members before traveling to Berlin for a closely-watched speech.
On November 4, 2019, Lagarde was set to kick off her term with a speech in Berlin, where she would face a German audience fiercely critical of the bank's easy money policies.
She was scheduled to speak at an evening ceremony honoring her friend Wolfgang Schaeuble, Germany's parliamentary speaker and a conservative champion of austerity.
Germany has been a vocal opponent of the ECB's stimulus measures, arguing that record-low interest rates and cheap credit were hurting German savers.
When asked about the 'black zero' budget policy, Lagarde replied, "That's a topic that we discuss always together, but privately."
As head of the International Monetary Fund, Lagarde had previously called for Germany to spend and invest more to bolster eurozone growth.
Markets will be closely following Lagarde's first outing as ECB chief for any hint of policy changes to come.
