These press conferences are a tangible expression of the Eurosystem’s commitment to being open, transparent and accountable in its conduct of monetary policy. Obviously, journalists, financial markets and the public are still learning about the new monetary policy strategy in the euro area and, over time, the Eurosystem will further improve its communication.
In this respect, it has also been argued that we do not release sufficient information about our analysis. More specifically criticism has been expressed to the effect that the Eurosystem is currently not publishing its inflation forecasts. May I remind you, therefore, that the inflation forecast is not a key element of our strategy?