Should Central Banks publish interest rate forecasts? - A Survey
Tuan Phan ()
MPRA Paper from University Library of Munich, Germany
Abstract:
As a particular form of transparency, nowadays some central banks publish their interest rate forecasts while many others refuse to do that. Whether the publication is good or bad for economic performance and social welfares is now a hotly debatable subject. This paper provides a review of the literature in both theoretical and empirical aspects. We also establish a criteria table which could be used as a preliminary guideline for central banks in answering the question whether they should reveal the forecasts, and how to publish the policy rate inclinations. The suggested conclusion is that interest rate projections should be considered as one of the last items that central banks should reveal and they should be very careful in publishing its policy rate forecasts.
Keywords: Central bank; transparency; interest rate forecasts (search for similar items in EconPapers)
JEL-codes: E58 (search for similar items in EconPapers)
Date: 2013-03-01, Revised 2013-03-01
New Economics Papers: this item is included in nep-cba, nep-for, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:44676
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