Third Banca d'Italia/CEPR Conference on Money, Banking and Finance: Monetary Policy Design and Communication
Communication has become an integral part of the strategy of modern central banks. Over the past two decades central banks have generally become more transparent in communicating their objectives, explaining their strategy for setting the policy rate, providing their views regarding the economic outlook and, in some instances, their forecasts on short-term interest rates. Communication can enhance policy effectiveness and help attain the central bank’s ultimate objectives: it facilitates learning by the public, affects expectations and reduces informational frictions. This conference aims to cast light on the above issues, both on theoretical and empirical grounds.
|Classification:||E5 - Monetary Policy, Central Banking and the Supply of Money and Credit|
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