Rate signals and CB transparency
Interest rates should be added to the list of signals that central banks can reveal in order to be transparent, according to a paper published by the Centre for Economic Policy Research.
The paper also argues that central bank's policies regarding transparency should:
allow for more than one economic fundamental;
extend the range of uncertainties that matter; and
derive results that are general in the sense that they do not depend on a social welfare criterion.
Transparency policy should also
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