Despite substantial differences in monetary policy and communication strategies, many central banks share the practice … of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events …. This practice is remarkable, as it seems to contradict the virtue of transparency by requiring central banks to withhold …

to revert to other types of Fed communication in the inter-meeting periods, and come to their own assessment of the … indeed have improved transparency in the sense that information is now released to the markets at an earlier time and with …

potentially conflicting - aspects of transparency. When there are frictions in communication or imperfections in the processing of …In most of the existing academic literature the notion of transparency in monetary policy is defined in too simple … information, greater 'openness' (i.e. more information) need not always enhance the 'clarity' of central bank communication. In …

Media coverage of monetary policy actions is a central channel of a central bank’s communication with the wider public … inflation environment, and that the media’s coverage of decisions is generally highly responsive to ECB communication – in …

Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of … the Federal Reserve, two hypotheses about central bank transparency derived from the debate of Morris and Shin (2002) and … Svensson (2006). First, the paper finds that the precision of communication is a key determinant of the predictability of both …

and transparency for liquidity of corporate bond markets. We have applied it to the illiquid segments of the European … systemic liquidity. We also found that post-trade transparency has surprisingly little bearing on liquidity in that where it … improves liquidity it is merely acting as a proxy for pre-trade transparency or transparency of holdings. We conclude that if …

that the results have implications for debate surrounding the opacity of banks and the transparency requirements that may …