Framework guidance helps ECB monetary policy comms – Lane
Approach appears to have made rate expectations more sensitive to economic news, says chief economist
Framework guidance and a clear explanation of the reaction function have enabled the European Central Bank to communicate monetary policy more effectively, the bank’s chief economist has said.
In a speech on November 11 at the Bank of England Watchers’ conference in London, Philip Lane said framework guidance had been outlined in the ECB’s 2021 monetary policy strategy statement. This, he said, had committed the bank to basing rates decisions on “an integrated assessment of all relevant factors
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 info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Communication
Government officials told BoJ that economy was at ‘crossroads’
October minutes show board members called for faster tightening at meeting that resulted in hold
RBA’s Hunter indicates more tightening likely
Deputy governor says inflation fight ‘not quite’ over yet following four rate hikes this year
Arcontech enhances central banks’ market‑sensitive data publishing with end-to-end encryption
Monetary policy decisions and auction results are safeguarded against cyber security threats.
Central bank heads agree on consensus, but reject groupthink
French, Nigerian and Swiss chiefs discuss their diverse approaches to monetary policy decision making
RBNZ chief economist values greater freedom to share policy views
Paul Conway also says central bank flexible about potential mandate change
PBoC considering making overnight rate its benchmark
Governor says rate already ‘benchmark-like’ as he unveils onshore FX pilot and other measures
Warsh is not silencing the Fed, he’s making it speak with one voice
Without the dot plot, markets would rely more on the chair's words to assess the path of rates – although only at the short-end, argues Marcello Minenna
Pre-emptive policy has built credibility, says Georgian governor
Enriched monetary policy toolkit assesses whether shocks are transitory in a volatile world