The central bank's first strategic review since 2003 will analyze why that is the case and whether that target, or how its calculated, needs to change.
The European Central Bank's new president said she aims to instead be an "owl."
The former IMF chief took the helm at the euro zone's top financial institution in November.
Christine Lagarde, the European Central Bank's new president, gave some hints on her strategic review.
Ken Wattret, chief European economist at IHS Markit, discusses the European Central Bank's latest monetary policy decision.
Christoph Rieger, head of rates and credit research at Commerzbank, said Christine Lagarde could drop some hints about her planned ECB policy review.
Jeremy Stretch, head of G-10 FX strategy at CIBC, says investors could struggle to interpret Christine Lagarde's debut ECB press conference.
David Zahn, head of European fixed income at Franklin Templeton, discusses Christine Lagarde's plan to launch a strategic review into ECB policy.
Ann-Katrin Petersen, investment strategist at Allianz Global Investors, discusses the European Central Bank's latest monetary policy meeting.
CNBC's Annette Weisbach reports the key highlights from the European Central Bank's latest monetary policy move.
Washington must force European and Asian mercantilists to change their ways through bilateral channels and multilateral forums, writes Dr. Michael Ivanovitch.
David Riley, chief investment strategist at BlueBay Asset Management, said the ECB's tiering measure shows it's taking concerns over negative rates seriously.
Angel Talavera, chief euro zone economist at Oxford Economics, said incoming President Christine Lagarde could help mend some "damaged" relationships at the ECB.
Felix Herrmann, investment strategist at BlackRock, said he's "constructive" on peripheral euro zone government bonds.
Fabio Balboni, senior economist at HSBC, discusses the European Central Bank's latest monetary policy decision.
CNBC's Geoff Cutmore and Annette Weisbach discuss key moments in the European Central Bank's history under Mario Draghi's leadership.
Mario Draghi is speaking at his last press conference as president of the European Central Bank.
A tough and uncompromising U.S. approach to its EU trade is in order, writes Dr Michael Ivanovitch.
Mario Draghi fought the headwinds of German-imposed fiscal austerity on sinking euro area economies and led the monetary union to economic recovery.
The latest data on U.S.-China trade indicate that Beijing is not doing what it should to reduce its excessive surpluses by buying more American products, writes Dr Michael Ivanovitch.