Mr Praet concludes by explaining that the value of clarity in central bank communication is particularly evident in a financial crisis. He emphasises, “But communication – no matter how clear – only works if the communicator is credible.
The ECB has a track record of following up words with deeds, and we intend to maintain it.” *  *  *  1  Ladies and Gentlemen , The last ‘’ECB and its Watchers’’ conference took place in June 2012.