Thursday 26 April 2018

ECB to extend time between policy meetings

Mario Draghi
Mario Draghi

Jeff Black, Alessandro Speciale and Stefan Riecher

The European Central Bank is considering holding its meetings to set interest rates every six weeks instead of monthly, according to sources.

Extending the period between monetary policy decisions could help the ECB to agree on and publish minutes before the next rate-setting session, the sources added. The timetable echoes that of the US Federal Reserve, which has eight scheduled meetings a year and publishes an account three weeks later.

ECB President Mario Draghi signalled last month that he wanted to reduce the frequency of rate decisions and increase the transparency of the process to curb speculation over plans.

"It's very clear that the frequency of our meetings leads the public and the market to expect action," he said. (Bloomberg)

Irish Independent

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