Back in May, you attracted a lot of attention when you indicated at a non-public event involving hedge fund managers that the ECB would frontload some QE purchases before the summer, with the speech not being published until 12 hours later. President Draghi announced that the rules governing such appearances would be changed. What lessons need to be learned from that?
As the ECB has stated publicly, the discussion that was triggered was primarily a result of several misunderstandings relating to the substance and the news content of the speech, as well as an internal procedural error regarding the timing of its publication. But I have also drawn my own personal lessons from the incident. What are they?