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Communication Tool in Central Banking. Increasing its Role for the New Reality

Author

Listed:
  • Criste Adina

    (“Victor Slăvescu†Centre for Financial and Monetary Research)

  • Lupu Iulia

    (“Victor Slăvescu†Centre for Financial and Monetary Research)

Abstract

The central banks started to give more importance to their communication with the public even before the onset of the global financial crisis, but the use of this complementary instrument of monetary policy intensified significantly both during the period of the financial crisis, and during the post-crisis period. While the communication policy was essential during the financial crisis, it is no less important in the post-crisis period characterized by several challenges and by the increasing incertitude about the evolution of the economy. The paper shows the way in which the central banks consider their communication policy with the public and with the market during the post-crisis period, highlighting that the challenges facing recently these institutions require refining and expanding the communication instruments.

Suggested Citation

  • Criste Adina & Lupu Iulia, 2017. "Communication Tool in Central Banking. Increasing its Role for the New Reality," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 537-541, December.
    • Handle: RePEc:ovi:oviste:v:xvii:y:2017:i:2:p:537-541
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    References listed on IDEAS

    as
    1. CRISTE, Adina & LUPU, Iulia, 2015. "Recent Developments In The Strategies Of The European Monetary Authorities," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 2(1), pages 111-115.
    2. Paul Hubert, 2015. "The Influence and Policy Signalling Role of FOMC Forecasts," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(5), pages 655-680, October.
    3. Karyne B. Charbonneau & Lori Rennison, 2015. "Forward Guidance at the Effective Lower Bound: International Experience," Discussion Papers 15-15, Bank of Canada.
    4. Paul Hubert, 2015. "The Influence and Policy Signalling Role of FOMC Forecasts," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 77(5), pages 655-680, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    complementary instrument of monetary policy; communication policy; financial crisis;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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