The matter of minutes: Why open up private deliberations?

Many central banks publish records of MPC meetings. Where should public scrutiny stop?


The centrepiece event of monetary policy-making is often perceived as the press conference at a meeting’s end. Many short press reports about monetary policy decisions rely almost entirely on these appearances and accompanying material.

Although these are often very detailed presentations – and frequently reporters can ask questions of central bank officials directly – they convey only a fraction of the available information about monetary policy decision-making. They do not necessarily go into

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