met, including the use of large volumes and that intervention is made public and supported via communication. …

influencing such heterogeneity as Fed communication is found to affect forecast accuracy significantly. …

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 …

Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real …-world developments have spawned a huge new scholarly literature on central bank communication —mostly empirical, and almost all of it … written in this decade. We survey this evergrowing literature. The evidence suggests that communication can be an important …

financial market volatility after FOMC meetings. Finally, Fed communication may exert an influence on forecast accuracy. JEL …

Media coverage of monetary policy actions is a central channel of a central bank’s communication with the wider public … inflation environment, and that the media’s coverage of decisions is generally highly responsive to ECB communication – in …

influencing such heterogeneity as Fed communication is found to affect forecast accuracy significantly. …