The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …

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 … is sizeable, accounting for instance for one third to half of the prediction errors of FOMC policy decisions. By contrast …

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 …

communication. We might expect interest rate expectations, and potentially other asset prices, to react to official communication if … such communication helps inform market participants. We find evidence that the publication of the Minutes of the Monetary … for the UK are arguably less strong than Kohn and Sack’s (2003) findings for US Federal Reserve communication. Although …

their assessment of central bank communication skills and success in conveying objectives as well as the importance of … and their overall communication skills on the one hand, and market participants' perception of the banks' predictability …

their assessment of central bank communication skills and success in conveying objectives as well as the importance of … and their overall communication skills on the one hand, and market participants' perception of the banks' predictability …

The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …

paper studies the implications of using different communication channels: established media outlets versus social media … bank to actively adopt accessible language, simplifted messages and new forms of communication via its Twitter account … share of informed consumers is higher among Twitter users, suggesting potential benefits from Twitter communication with the …