Exclusive News Reporting and Insights on Central Banks and Debt Issuers

Latest News

Exclusives

Insights

ECB Insight: Rotation Risk in 2026, or Which Meetings Are Most Exposed to the Voting Roster

ECB Insight: Rotation Risk in 2026, or Which Meetings Are Most Exposed to the Voting Roster

By David Barwick – FRANKFURT (Econostream) – The European Central Bank emphasizes that the monthly rotation of Governing Council voting rights does not silence anyone: all governors still attend and have the right to speak, and most decisions are reached by consensus. A recent empirical study of the ECB’s rotation model is broadly consistent with that claim, finding only rare cases in which rotation appears likely to have determined outcomes.

6 January 2026

ECB Tone Meter

Entire Governing Council

26 Members
Very Dovish
Very Hawkish

Executive Board

6 Members
Very Dovish
Very Hawkish

Evolution

Governing Council vs. Executive Board

As of 7 January 2026

ECB Tone Meter

Meeting Bias

ECB Governing Council Meeting