In a speech in Amsterdam on Thursday, the ECB president Mario Draghi said he is convinced that publishing an account of the main arguments raised in the central bank’s monthly policy meetings “would be useful” and “will on balance serve to strengthen the governing council’s collegiate decision making and communication”.
Bram Stalknecht, CEO SemLab said publishing non-attributed minutes of council meetings will open up the ECB’s decision making process, as an addition to ECB the monthly held press conferences, avoiding unexpected decisions.
With SemLab council meetings sentiment analytics, customers can react faster on ECB decisions, including conventional measures, eg liquidity operations and longer-term fixed rate operations. This provides at-a-glance insight in macro economic moving events, in a computer readable format.The resulting minute events are ranked according to their implicit sentiment on scale of -5 (negative) to 5 (positive).
Mario Draghi has backed plans for the European Central Bank to publish non-attributed minutes of its governing council meetings, a proposal that would move the central bank closer to its peers in the UK, US and Japan.