These communication efforts not only take the form of regular testimonies in the European and national Parliaments, periodic bulletins and speeches, but also take place in “real time”: ECB President Jean-Claude Trichet explains the monetary policy decisions and the underlying reasoning in press conferences which take place immediately after Governing Council meetings and which provide “question and answer sessions” for journalists.
In today’s euro area, about 317 million people in 13 countries benefit from a low inflation environment and stable inflation expectations, a high degree of confidence in their currency and moderate interest rates – all of which are elements of a business and investment-friendly economic environment.