Lagarde owl

The ECB will start meetings earlier and curtain executive presentations in order to give national central bank presidents more time to talk, according to a Reuters report that cites six sources.

The changes come after the ECB staff underestimated inflation this year.

Some changes were already implemented in April with the two-day meeting starting earlier on both days, leaving more time for debate.

At the heart of the issues may have been long presentations by ECB chief economist Lane, running some 60 pages and leaving little time for debate. All executive members have now been told to limit presentations to 20 pages and leave time for debate.