By Marta Vilar – WASHINGTON (Econostream) – European Central Bank Chief Economist Philip Lane said on Thursday that the central bank should communicate its policy decisions in a more “nuanced and subtle way,” rather than conveying full certainty about its actions.

Speaking on a panel during the IMF Spring Meetings in Washington, DC, Lane said policymakers should weigh the risk of moving now only to find later that the move was unnecessary.

“Is that a mistake or is that just risk-management action?” he asked rhetorically.

He added that the ECB should better explain the reasoning behind its decisions through its underlying framework, rather than implying complete confidence about the need to act, stressing that providing detailed explanations of how the framework operated is “certainly important.”

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