Monetary Policy Communication: Perspectives from Former Policymakers at the ECB-Reference-Cited by-同舟云学术

Monetary Policy Communication: Perspectives from Former Policymakers at the ECB

Published:2023-04-09 Issue: Volume: Page:
ISSN:0022-2879
Container-title:Journal of Money, Credit and Banking
language:en
Short-container-title:J of Money Credit Banking

Author:

Ehrmann Michael,Holton Sarah,Kedan Danielle,Phelan Gillian

Abstract

AbstractA survey on monetary policy communication among former members of the Governing Council of the European Central Bank (ECB) reveals that enhancing credibility and trust is viewed as the most important objective of communication. Respondents judge communication with financial markets and experts as adequate, but see room for improvement in communicating with the public. The central bank objective is seen as the most important topic. Several respondents perceived the ECB's inflation aim of “below, but close to, 2%” that was in place at the time as ambiguous and in need of clarification. Overall, there is broad consensus on various communication issues.

Publisher

Wiley

Subject

Economics and Econometrics,Finance,Accounting

Link

https://onlinelibrary.wiley.com/doi/pdf/10.1111/jmcb.13054

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