Otmar Issing on the art of central bank communications

EMU architect critiques “whatever it takes”, forward guidance, Fed’s AIT and ECB’s strategy review

Otmar Issing
Photo: Mario Schmitt

Communications has changed quite markedly in the last few decades, moving from what you described in your book The long journey of central bank communication as “amateurish ad hoc-ery” to “professionalism”, particularly among independent central banks. What are the most important positive changes you’ve seen?

You referred to my remark about going from ‘amateurish’ communication to ‘professional’. There was even a time before that when central banks didn’t communicate at all. In my little book

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