I would like to share with you my views on this matter today. A written account of our policy deliberations would provide a more detailed explanation of the reasoning behind the Governing Council’s decisions, and give a sense of the discussion and the main arguments.
This would allow the public and markets to further improve their understanding of the Governing Council’s reaction function, our assessment of the economy and our policy responses in light of evolving conditions. For this reason, I am convinced that it would be useful. Yet, we need also to be careful.