Optimal transparency of monetary policy committees
Revealing the diversity of views in monetary policy committees makes future monetary policy more predictable, a new paper from Germany's central bank finds.
However, communicating the diversity of views regarding monetary policy decisions could lead to less predictability in the short term.
The paper also finds that communication in the form of individual voting records has the greatest effect on market participants' near-term policy expectations.
To read the paper, click here.
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