This paper considers the signalling aspect of monetary policy. We introduce a heuristic framework for the study of signal uncertainty, and use this to analyses the signal uncertainty implicit in the communications of the Bank of England’s Monetary Policy Committee (MPC). Our findings suggest...

This paper analyses the signal uncertainty implicit in the communications of the Bank of England's Monetary Policy Committee (MPC). Unlike previous studies, which seek to construct a qualitative uncertainty index that heavily relies on subjective interpretations of key expressions, we limit...

Exploring knowledge in monetary policy process stands to benefit by departing from conceptualizing knowledge as an objective depiction of reality, a neutral language of science underpinning technocratic policy-making. This paper proposes a postpositivist perspective, approaching knowledge...