BIS Review 56/2004  5  Communication with the public and the markets has also been facilitated by the fact that our assessment of the economic situation and the risks to price stability are published regularly and that monetary policy decisions are explained in a press conference held after each monthly meeting in which monetary policy is discussed.
In this respect we have been bold. In 1999, central banking communication, with only very few exceptions, involved presenting the bank’s diagnosis by publishing the minutes with a delay of five or six weeks. The ECB was one of the first central banks to give a real-time detailed analysis and assessment and to organise regular press conferences.