Central bank transparency can be exploited to reduce uncertainty in the economy, according to a working paper published by the National Bank of Hungary in November.

The authors, Csaba Csávás, Szilárd Erhart, Dániel Felcser and Anna Naszodi, find greater transparency can improve the quality of survey forecasts in the economy and can also reduce the degree of disagreement across individual forecasters.

The authors then divide the concept of transparency into separate actions and identify their