Bank of Israel’s communication more accessible than Fed’s and ECB’s – research

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David Vaaknin

The policy communication of the Bank of Israel is easier to understand than that of the Fed and the European Central Bank, says research published by the Israeli central bank.

In Measuring communication quality in the Bank of Israel’s interest rate announcements, Jonathan Benchimol and Itamar Caspi analyse the Bank of Israel’s interest rates announcements from 2007–18.

“We find that understanding the texts requires a high level of education, although significantly lower than what is necessary

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