Draghi: ECB’s members should not meet with markets prior its sessions

The members of European Central Bank’s board should not hold any meeting with market representatives one week before ECB’s meeting sessions, ECB President Mario Draghi clarified in a letter sent to the European Parliament.

Mr. Draghi stressed the need to avoid any rumors or misconceptions about meetings between members of the Executive Board and media and market representatives.

Therefore, as Mr. Draghi stated ECB decided that the members of the Executive Council will refrain meet or speak with the media, market representatives or others outside the bank who are interested in monetary policy issues during the quiet period, ie seven days before the scheduled meetings on monetary policy.

This statement, as Reuters reports, improves the transparency of the stronger European institution after critics that it is one of the most non-transparent institutions in Europe.