Economics, Econometrics and Finance
5 years ago

Czech National Bank's Clear Communication Boosts Economic Stability and Confidence.

IMF Working Paper
Striving to Be "Clearly Open" and "Crystal Clear": Monetary Policy Communication of the CNB
Aleš Bulı́ř, Kateřina Šmídková

Paper Summary

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The Czech National Bank effectively communicates its monetary policy through tools like inflation targets and forecasts. A study from 2001-2005 shows that in about three-quarters of cases, the bank's messages were clear and consistent.