ECB Will Publish Currency Intervention Data on Quarterly Basis
ECB Will Publish Currency Intervention Data on Quarterly Basis
(Bloomberg) --
European Central Bank policy makers have agreed to improve the publishing of regular data showing interventions in foreign-exchange markets.
The Frankfurt-based institution will reveal its currency actions on a quarterly basis starting in April 2020 with statistics dating back to its foundation in 1999, according to a statement on Friday. While some data is already released, now it will be more systematic, provided in tables and also collated in its annual report.
“The aim is to enhance communication and transparency,” the ECB said in a statement. “These practices go beyond what is strictly required by the Treaty on the Functioning of the European Union. In this way the ECB is providing relevant information on its strategy, assessments and policy decisions to the broader public and the financial markets.”
The ECB has only intervened twice in its history -- in 2000 and in 2011. The first time was to stem weakening of the euro shortly after its creation, and the second was a coordinated move by Group of Seven countries after the yen strengthened following an earthquake.
To contact the reporter on this story: Craig Stirling in Frankfurt at cstirling1@bloomberg.net
To contact the editors responsible for this story: Simon Kennedy at skennedy4@bloomberg.net, Zoe Schneeweiss, Brian Swint
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