Monetary Policy Communication: Perspectives from Former Policymakers at the ECB

Michael Ehrmann, Sarah Holton, Danielle Kedan and Gillian Phelan

Journal of Money, Credit and Banking, 2024, vol. 56, issue 4, 837-864

Abstract: A 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.

Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1111/jmcb.13054

Related works:
Working Paper: Monetary Policy Communication: Perspectives from Former Policy Makers at the ECB (2022)
Working Paper: Monetary Policy Communication: Perspectives from Former Policy Makers at the ECB (2021)
Working Paper: Monetary policy communication: perspectives from former policy makers at the ECB (2021)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:jmoncb:v:56:y:2024:i:4:p:837-864

Access Statistics for this article

Journal of Money, Credit and Banking is currently edited by Robert deYoung, Paul Evans, Pok-Sang Lam and Kenneth D. West

More articles in Journal of Money, Credit and Banking from Blackwell Publishing
Bibliographic data for series maintained by Wiley Content Delivery ().