ECB has a FOMC now…

ECB had announced the shift earlier. The details came y’day.

There will be 3 groups:

  • Executive members – All  6 will have voting rights in all 12 months
  • Big members -there are 5 members. 4 out of 5 shall maintain recording rights every month. one will drop out. IN Jan 15, Spain shall drop out.
  • Small economy members – Post Lithuania joining we shall have 14 members in this group. Out of this 3 shall drop out every month.

So basically, there will be 21 members voting each month (6+4+11). The difference is members shall rotate every month. Unlike FOMC where members rotate every year, here it shall be every month.

But still 21 is pretty large..

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