Monetary policy communication and uncertainty

Tim Hampton, Dominick Stephens and Renee Philip
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Renee Philip: Reserve Bank of New Zealand

Reserve Bank of New Zealand Bulletin, 2003, vol. 66, No 2

Abstract: Central banks have become progressively more transparent in explaining to the public the rationale for a given monetary policy decision, often using economic projections as a vehicle for explaining policy issues. Nevertheless, increased transparency poses potential risks, particularly if the uncertainty around projected outcomes is not communicated in a way that avoids misleading readers. This article describes a number of the options available to central banks for communicating uncertainty.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:nzb:nzbbul:june2003:3

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