Monetary Policy Communication: Frameworks and Market Impact

Bond markets are an important conduit of monetary policy signals to the economy. Reforms that improve the functioning of bond markets will hence facilitate macroeconomic management effectiveness. Here communication plays an increasingly important role. Good monetary policy communication is not only important to improve the effectiveness of monetary policy in the first place, but by reducing uncertainty it makes bond markets more attractive for investors, further improving monetary transmission.

13. März 2019

Autoren Michael McMahon Alfred Schipke Xiang Li

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