The European Central Bank said Thursday that it plans to hold the first monetary policy meeting of its new six-week rotation schedule on January 22.
In a statement published in Frankfurt, the ECB also said its indicative calendar will include Monetary Policy meetings in Frankfurt throughout the year as well as Cyprus on March 5 and Malta on October 22.
The new meeting schedule replaces the previous system of monthly monetary policy meetings held 10 times each month in Frankfurt and twice each year at an external location. The new procedures were outlined by ECB President Mario Draghi during his July press conference.
“The frequency of our monetary policy meetings will change to a six-week cycle, from January 2015,” Draghi said on July 3. “The reserve maintenance periods will be extended to six weeks to match the new schedule. Moreover, we announce our commitment to publish regular accounts of the monetary policy meetings, which is intended to start with the January 2015 meeting.”
The ECB said Thursday that the new reserve maintenance period for the January 22 meeting will begin on January 28 and end on March 10.