Monetary policy press conferences more common than minutes
High income institutions trail behind middle income banks on minutes publication
Central banks use a varied mix of communications to convey policy decisions, with press conferences proving more common than the publication of meeting minutes.
Just over half of central banks steer clear of publishing policy meeting minutes, while 29 out of 39 respondents to the Monetary Policy Benchmarks 2022 (74%) hold press conferences on the outcome of monetary policy decisions.
Twenty of the respondents (51%) said they do not publish policy meeting minutes, while 19 other banks (49%)
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Average central bank publishes minutes around two weeks after a policy decision
Proportion of central banks observing blackout period rises
AE respondents remain much more likely to employ the practice
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Minority of central banks say they organise zero press conferences
Central banks average four forecast updates a year
Final decision on projections jointly taken by policy-makers and staff in most jurisdictions