For instance, the monthly decisions on key interest rates and their underlying reasoning are explained in detail to the public by the ECB President in a press conference that directly follows the meeting of the Governing Council. Furthermore, media representatives have the opportunity to pose their questions to the ECB President in the subsequent Q&A session.
Taken together, the Eurosystem’s monetary policy framework is transparent, and monetary policy decisions are explained to the public both in great depth and in real time. Notwithstanding all these elements of a “state of the art” monetary policy, some observers, in particular from the English-speaking world, have repeatedly called into question the European monetary policy framework and have doubted its clarity.