(Dec 9): Almost five weeks since Mario Draghi retired from running the European Central Bank (ECB) and finding an outright fan of his legacy of negative interest rates has become a lot harder.

Governing Council members, who collectively lowered the key rate to minus 0.5% shortly before Draghi’s term ended, are increasingly portraying it as a necessary evil that should not be compounded.

Sparse communication on monetary matters by his successor as president, Christine Lagarde, has not dispelled that impression.

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