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Transparency and communication essential to central banks

Speaking to the Economic Journalists Association of the Philippines, he said central banks need to be explicit with their monetary policy decisions to ensure clear communication of long-term objectives of monetary policy. “In the past, there has been a general view that central banks tended to operate with considerable secrecy and mystery. However, over the past decade or so, most central banks have moved towards increased transparency and greater communication in the conduct of monetary pol