Thursday (December 12) was a day of firsts at the European Central Bank.

The first policy-meeting press conference under its new president.

Its new president, the first woman in the job.

Though other things too may mark out Christine Lagarde from her predecessors.

(SOUNDBITE) (English) ECB PRESIDENT, CHRISTINE LAGARDE, SAYING:

"I will have my own style. Don't over-interpret, don't second-guess, don't cross-reference. I am going to be myself and therefore probably different."

One possible way to make a difference: with a strategic review - to be completed by the end of 2020.

Lagarde's first promise is to weigh up how the massive changes of recent times should impact the ECB's mission.

Included in that: climate change and technology.

As for policy: the ECB's ultra-loose monetary package of asset purchases and negative deposit rates was left unchanged.

The growth outlook: marked down from 1.2 to 1.1 per cent for next year.

During which euro zone inflation will struggle to get much above half a target two percent rate.

But, she said, the global outlook is improving.

(SOUNDBITE) (English) ECB PRESIDENT, CHRISTINE LAGARDE, SAYING:

"I'm not going to bet on how phase one of the trade discussions between the United States and China are heading and when they will be completed and what it will deliver, but it's heading in a better direction."

After the Fed's hint on Wednesday that it may leave rates on hold in 2020 ...

Analysts see the ECB on hold too throughout the year.

In the meantime, Lagarde promised, ECB policy communication will get simpler and more jargon free.

Though there could also be a first in its central bank lexicon.

The new chief describing her ambition to be neither a dove, nor a hawk - but an 'owl' with a little bit of wisdom.