- ECB fwd guidance helped influence yield curve
- ECB to take holistic perspective in assessing prices
- ECB difference in view is healthy
Headlines from a speech called "Accounts and Accountability" that Draghi has published on ECB website here
Let me conclude.
Enhancing transparency is a logical step for central banks facing an increasingly uncertain environment. In different ways all major central banks have moved in this direction during the crisis, be it through forward guidance on their policy or enhancing communication with the public. And this is in my view a thoroughly welcome development. The days of central banks acting as opaque and secretive institutions should be consigned to the past.
More transparency benefits central banks by making them more accountable and effective. And in our case it also helps deal with the particular challenges of setting monetary policy in a multi-country monetary union.
Throughout the crisis citizens in some parts of the euro area have been calling on the ECB to do more, while elsewhere we have been called to do less. This is inevitable in a monetary union. But I trust that by publishing our account we can help the public to understand how all viewpoints are reflected and respected in our decisions, and how in the end we strive to take the decision that best serves the euro area as a whole.
Draghi- who needs unity ?
