ECB and BoJ officials reject explicit forward guidance
Central bankers promote ‘meeting-by-meeting’ approach to rates setting
Senior officials from the European Central Bank and the Bank of Japan have said it is inappropriate to provide explicit forward guidance for interest rates in the current climate.
During a panel discussion on October 16 at the Institute of International Finance’s annual meetings, ECB board member Philip Lane said the prevalence of hard-to-measure global uncertainties meant the central bank would not be providing forward guidance to the markets. He said the ECB had reviewed its monetary policy
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