I would like to thank you warmly for having invited me to address you today. This is a good opportunity for me to explain the policies of the European Central Bank (ECB) and to listen to your concerns and questions. I am looking forward to a fruitful exchange of views today. To lay the ground for our discussion, I will focus on three topics: the ECB’s monetary policy (even though I will not elaborate on possible upcoming measures as we are in the so-called “quiet” period during which members of the Governing Council are expected to remain silent on this issue), the ECB’s accountability framework and transparency, and ... (full story)