Central banks split on blackout periods
Reasons for operating blackout periods include facilitating effective policy transmission and avoiding speculation
Half of respondents to the Monetary Policy Benchmarks 2021 said they operate some form of ‘blackout period’ around their policy decisions.
Blackout periods, also known as ‘quiet periods’ or ‘purdah’, are when policy-makers cannot make statements related to a policy decision.
Of the 32 central banks that provided data on whether they operate a blackout period, 16 said they do and 16 said they do not. The average length of time for blackout periods was 10 days, and ranged from 2–21.
National
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