For a number of reasons, which I have pointed out on previous occasions before Parliament, we believe that the tools chosen by the ECB to communicate and explain its decisions ensure transparency, are more readily available and better reflect the institutional environment in which the ECB operates.
You will also not be surprised that I cannot share the view that the ECB’s decision-making process might have been delayed by the fact that most Governing Council decisions have so far been taken by consensus. Indeed, the Governing Council has taken its decisions in a timely manner, responding appropriately to changing economic conditions whenever required.