As Bloomberg notes, her efforts to modernize the ECB include potentially resetting the inflation goal of "below, but close to, 2%," studying alternative measures of price growth, and assessing its policy tools. She's benefiting from signs that a deep manufacturing slump in the 19-nation economy is bottoming out before it causes greater harm to the labor market and consumer spending. That should allow policy makers to focus on the review, which will last most of the year and also tackle issues including financial stability, climate change and communication.