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European Central Bank opens minutes to the public for the first time


economy

European Central Bank opens minutes to the public for the first time

The European Central Bank has decided to open its books to the public for the first time. They record the discussions on the morning of January 22 when policymakers agreed a landmark 1.1 trillion euro quantitative easing package.

The minutes reveal some members were not in favour of the programme and called on the governing council to back purchases of corporate bonds instead.

The ECB also reported a steep rise in costs on Thursday. The bank’s annual accounts for 2014 showed a jump in wages and costs by a quarter from last year. It was also hit by its record low interest rates.

Those factors combined to show a drop in the ECB profits by almost a third to 989 million euros from 1,440 million.

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