Perception is reality when it comes to comms – BoE paper
Study finds central bank messaging rarely reaches public, though it shapes media narratives
Monetary policy-makers should consider not only the content of their communications but how the public consumes and perceives their messaging, research from the Bank of England suggests.
The paper published by Eric Tong and Rennae Cherry on July 10 examines how central bank narratives shape media narratives, and how the latter shape public perceptions. The authors analyse communications from the central banks of Canada, the UK and the US. They find that shocks created by monetary policy
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