Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?

Bulı́ř, Aleš; Čihák, Martin; Jansen, David‐Jan

doi:10.2139/ssrn.2502005

Cited by 2 publications

(1 citation statement)

References 31 publications

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“…95 It is vital that the CB provide proof to the public that the actions undertaken were within current rules and within the CB's mandate, and that the CB operated in a competent manner throughout the process. More specifically, Bulir et al (2014), citing the work of others, note that communication by various CBs (such as the U.S. Federal Reserve, the BOE, and the ECB) is relevant for financial markets, where "greater clarity has gone hand in hand with lower volatility in markets for various financial instruments" (p.3). The CB should undertake an ex post assessment of its LOLR operations with the aim of assessing how responsibilities were discharged and providing recommendations for further improvement.…”

Section: Ex Post Disclosurementioning

confidence: 99%

The Lender of Last Resort Function after the Global Financial Crisis

Dobler

Gray²,

Murphy³

et al. 2016

IMF Working Papers

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Section: Ex Post Disclosurementioning

confidence: 99%

The Lender of Last Resort Function after the Global Financial Crisis

Dobler

Gray²,

Murphy³

et al. 2016

IMF Working Papers

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show abstract

Assessment of the Clarity of Bank of Russia Monetary Policy Communication by Neural Network Approach

Evstigneeva¹,

Sidorovskiy²

2021

RJMF

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Inflation targeting requires clear and transparent central bank’s communication. Analysts and market participants understand it as a broad list of information disclosed by the central bank. The general public understands it rather as the ability of a central bank to speak and explain its decisions in a plain language. In recent decades, monetary authorities in many countries have made significant progress in this direction. However, there has been no research on the quality of communication for the Bank of Russia. This paper aims to create a tool for automated evaluation of the readability of the Bank of Russia’s monetary policy communication, taking into account the available experience of linguistic and textual analysis, including machine learning methods, as well as to provide recommendations for its improvement. This can contribute to improving the effectiveness of the Bank of Russia communication on monetary policy, which is vital for its credibility, anchoring inflation expectations, and predictability of the regulator’s decisions.

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Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?

Cited by 2 publications

References 31 publications

The Lender of Last Resort Function after the Global Financial Crisis

The Lender of Last Resort Function after the Global Financial Crisis

Assessment of the Clarity of Bank of Russia Monetary Policy Communication by Neural Network Approach

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