Press releases announcing and explaining monetary policy decisions play a critical role in the communication strategy …

Monetary policy communication is particularly important during unconventional times, because high uncertainty about the … predictability of policy actions. We study how monetary policy communication should and has worked under such circumstances. Our main …

and highly individualistic decision-making. The ECB has chosen a collegial approach both in its communication and in its … markets to communication are equally good for the Federal Reserve and the ECB. This suggests that there may not be a single …The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central …

The paper shows that central bank communication is a key determinant of the market’s ability to anticipate monetary … policy decisions and the future path of interest rates. Comparing communication policies by the Federal Reserve, the Bank of … England and the ECB since 1999, we find that communicating the diversity of views among committee members about monetary …

such communication has the ability to move financial markets. The findings suggest that communication is generally seen as … so prior to interest rate changes. At the same time, markets react more strongly to communication prior to policy changes …. Other instances where communication becomes more intense, or where financial markets become more responsive are also …

inflation environment, and that the media’s coverage of decisions is generally highly responsive to ECB communication – in …Media coverage of monetary policy actions is a central channel of a central bank’s communication with the wider public …, and thus an important factor for its credibility and policy effectiveness. This paper analyses the coverage which ECB …

European Central Bank (ECB) and on understanding of its communication about the Pandemic Emergency Purchase Programme, which …While it has become clear that communication is a monetary policy tool for central banks, and extensive research has … been conducted on central bank communication with financial markets, little is known so far on central bank communication …

Despite substantial differences in monetary policy and communication strategies, many central banks share the practice … of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events … information precisely when it is sought after intensely. However, imposing such a limit to communication has often been justified …

2007 compared to the pre-crisis period. At the same time, our results indicate that the ECB's net increase in outstanding …