It is logically consistent, it is transparent and in the case of the Eurosystem cannot lead to any sort of dynamic inconsistency as in our framework the staff forecast are just one element, albeit an important one, of the whole information set that we consider in our deliberations.
Contrary to the inflation-targeting regime, there is no commitment to a direct link between the projections and our decisions on interest rates. On transparency regarding the decisions and the decision-making process, I share the arguments that justify in our case the non-publication of minutes with the indication of individual votes.