Much like sporting events can be histrionically promoted as 'crunch matches', 'the day of reckoning' or similar, recent meetings of the world's central banks have often been given a similar billing. However, it's safe to say that the impact of these economic planning meetings lasts longer than any bangs and scrapes picked up in a 90 minute kick about.
Just another brick in the wall. In what is a potentially vital piece of the jigsaw in the project to keep the Euro afloat, the ECB had a mission: design a bank asset quality review that was just tough enough to gain credibility, but not too tough, for fear of scaring the horses and inducing queues of depositors to form outside banks when the results come out.
In dramatic breaks with history, Mark Carney and Mario Draghi persuaded the Bank of England Monetary Policy Committee (BOE) and the European Central Bank Governing Council (ECB), respectively, to issue what amounted to forward guidance on the path of future monetary policy, without having to actually formally announce they had done so.