ECB seems to actually going to wait for some time before announcing further steps to cope with Economy slumps. However, another surprise is waiting on the side.

High wind of change is blowing right now. Yesterday, Janet Yellen of US The Fed made headlines on her priority of US economy over financial stability. Then now, Mario Draghi of ECB announced a new event for your fundamental calendar.

The latest ECB policy meeting did not produce any particularly new insight into the works within the European monetary authority. ECB seems to actually going to wait for some time before announcing further steps to cope with Economy slumps. However, another surprise is waiting on the side: ECB is going to publish meeting minutes ala the Fed FOMC!

Mario
Governor of ECB, Mario Draghi, announced that starting from 2015, ECB will held policy meeting every six weeks, and publish the meeting minutes afterward. This is a particularly important piece of news for forex traders, because ECB has been holding meeting once in four weeks and never been publishing any minutes before.

 

Central Bank Policy Meeting Minutes 

Worldwide central banks attitude toward openness and transparency is generally divided into two: those who publish policy meeting minutes such as The Fed's FOMC and BoE's MPC, and those who do not release them for public consumption such as RBNZ, ECB, and Bank Indonesia. Within meeting minutes, differing views among meeting members will be known by the public. Who is it that agrees to rate cut, who thinks the economy is okay, who is supporting stimulus, etc.

Because such views are deemed important in the speculations around central bank decision, central bank policy meeting minutes is one of the more important agenda on fundamental calendar. The Fed FOMC Meeting Minutes, for one, has considerably large impact on the US Dollar.

How will the market respond to the changes? We have to wait a bit longer as there is still some time until we know the details on what will the content of the published minutes talk about. But it is surely an interesting piece of news. Look forward to add one more event on your fundamental calendar, traders!