Central bank communicators at a time of transparency

Monetary policy-makers used to believe they should say as little as possible. But, since the 1990s, a shift in thinking took place as many central banks worldwide moved towards adopting inflation-targeting regimes. Managing people’s expectations is perceived as an important part of the job of central bankers, and effective communication of central banks’ policies and decisions can play a key role in their success. As public institutions, central banks have also felt the need to open up to

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