Central bank comms affect long-run uncertainty – BoE paper


Central banks wanting to influence long-term interest rates should “take seriously” how communication affects uncertainty, a working paper published by the Bank of England says.

“In our view, this channel has been under-appreciated… especially as there is increasing evidence that uncertainty has macroeconomic impacts,” authors Stephen Hansen, Michael McMahon and Matthew Tong write. News about economic uncertainty “can have increasingly large effects along the yield curve”, they say.


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 [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: