Top ECB Official Privately Called Investors, Banks After Key Policy Decisions


(From The Wall Street Journal)

The European Central Bank’s chief economist made dozens of private calls to banks and investors after policy meetings this year, an unusual attempt to buttress the central bank’s sometimes-puzzling public communications, according to three people with whom he spoke and a review of his schedule…

The calls began in March, after ECB President Christine Lagarde flummoxed traders by suggesting at a news conference that the central bank wouldn’t prop up Italy’s bond market…

…Former central bank officials said the calls risked privileging big investors with sensitive information.


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