Sunday December 15, 2019

The ECB needs to explain itself

ECB officials need to be able to spell out the details of their monetary policy strategies in ways that the public can understand

9th July, 2019
ECB actions worry German banks.

When the ECB was established 20 years ago, central banks were generally not too clear about the details of their policy frameworks. At that time, some ambiguity may have been helpful, because of the flexibility it offered when the ECB started operating. Furthermore, it allowed central bankers with different experiences and perspectives to agree on a framework, even though they may not have agreed on its precise details.

Since that review, conducted in 2003, the global...

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