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The question how best to communicate monetary policy decisions remains a highly topical issue among central banks. Focusing on the experience of the European Central Bank, this paper studies how explanations of monetary policy decisions at press conferences are perceived by financial markets....
Persistent link: https://www.econbiz.de/10005344820
dollar. The findings suggest that communication hinting at a weakening of EMEs’ US dollar focus contributed substantially to … more cautious in their communication more recently. Overall, the results underscore the growing systemic importance of EMEs …
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The paper analyses whether communication and actual interventions in FX markets are successful in moving exchange rates … evidence that communication and actual interventions tend to be successful in moving exchange rates in the desired direction …
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. The paper finds that official communication, as reported by wire services, are effective in influencing the US dollar …
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to revert to other types of Fed communication in the inter-meeting periods, and come to their own assessment of the …
Persistent link: https://www.econbiz.de/10005162886
The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …
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