The European Central Bank's newfound status as the standard-bearer of monetary tightening sets up President Christine Lagarde for a tussle with investors doubting how long the euro zone can plow its own course.
Hours after the Federal Reserve's hint on a possible halt to interest-rate hikes, she insisted the Frankfurt institution is in no mood to pause - a stance already being tested by traders betting no one can sustainably defy the gravitational pull of U.S. policy.