Livesquawk picking up a Reuters story from the EU
Did you know the ECB has a watchdog? It's the EU ombudsman Emily O'reilly and she's going to be writing a stiff letter to Mario Draghis arguing that ECB big wigs should not give an investor any advantage over rivals by meeting them ahead of monetary policy meetings
The ombudsman has been looking into the comings and goings of governing council members since Benoit Coeure told a group of investors and hedge funds in May that the ECB would be front loading QE before the summer lull. The text wasn't released until the next day and after the wags at the meeting steamed into selling the euro, which then fell when it was published. That wasn't the first instance of him speaking to finance firms ahead of big events. In Sep 2-14 he met with BNP Paribas hours before the ECB cut the deposit rate
At the moment O'Reilly's letter is just a recommendation but it's likely to be given some attention by Draghi. It will no doubt come up at next week's presser following the ECB meeting
