Who Profited From ECB's Leak?

Blaming the media is a distraction.

Leaks only benefit the select few.

Photographer: Arif Ali/AFP/Getty Images

There's a right and a wrong way to respond to Monday night's leak of a change in the European Central Bank's bond-buying policy. The correct reaction would be for U.K. regulators to investigate who might have profited from the selective disclosure at a closed-door gathering of traders, economists and central bankers. The wrong one would be for the bank to stop giving the media texts of policy speeches in advance. Guess which path the ECB is currently choosing?

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