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 …

Svensson (2006). First, the paper finds that the precision of communication is a key determinant of the predictability of both … FOMC decisions as well as the future policy path. Second, the effectiveness of communication is found to depend on the … communication to be flexible and adjust to market conditions in order for central banks to achieve their ultimate objectives. …