Half of central banks offer no forward guidance
MPCs that meet at above-average frequency less likely to observe blackout period
Policy-makers in just over half of central banks do not provide forward guidance on rate setting, data from the Monetary Policy Benchmarks 2025 shows.
Across the sample of 48 respondents, most central banks indicated that members of the monetary policy committee (MPC) offer “no forward guidance” (52.1%). Among the few jurisdictions where the communication toolkit applies, policy-makers are more likely to offer guidance in qualitative (47.9%) than in quantitative (16.7%) terms.
Forward guidance is
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