Better information bolsters policy pass-through – BoE paper
Publishing forecasts can influence potency of monetary policy, study finds
Giving people more information on the macroeconomic environment can increase the potency of monetary policy, but only when information and policy work in the same direction, according to research published by the Bank of England.
Central bank information and the effects of monetary shocks, a staff working paper by Paul Hubert, studies how policy announcements and inflation projections influence the response of the term structure of interest rates.
Hubert notes a policy decision has an impact
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Communication
Maximising the impact of banknote communications
Antti Heinonen highlights the ongoing evolution in how central banks talk about their banknotes
Fed officials say strong economy gives them flexibility and time
Kugler, Barkin and Powell say upside and downside risks are evening out over time
Bank of Jamaica says free concerts help comms strategy
Central bank has run lunch-hour reggae concerts for two decades to engage with public
Training central bank communicators
The skills needed for communicating in a social media and artificial intelligence world
Communicating uncertainty helps curb expectations – BoC paper
But conveying uncertainty about inflation weakens link between inflation and spending plans
RBNZ’s Orr backs use of indigenous language
Governor defends services in Māori as new government vows to cut use of indigenous language
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
‘Conceptual complexity’ has risen in BoE publications, research finds
Conceptual complexity plays central role in expectations, understanding and trust, authors find
Most read
- Supervisors grapple with the smaller bank dilemma
- Fed policy-makers disagree over risks
- Central bank of the year: Central Bank of Brazil