Verbs matter in forward guidance – Italian paper
Researchers look at verbs used in ECB statements from 2002 to 2015
Market participants and observers pore over the statements on monetary policy issued by central banks, and will certainly do so carefully tomorrow (July 20), when the European Central Bank’s (ECB) governing council issues its next statement.
Economists and analysts have become increasingly interested in the means central banks use in their forward guidance to influence markets. A new paper published by the Bank of Italy today (July 19) suggests that these efforts have neglected a key factor in
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