Batch-0008-023: Central Bank Communication as a Policy Instrument: Beyond Forward Guidance
批次0008-023:央行沟通作为政策工具:超越前瞻性指引
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Modern central banks now treat communication—press conferences, minutes, speeches—as an active transmission channel, not mere transparency.
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Market reactions to tone shifts often exceed those triggered by actual rate changes, especially in low-rate environments.
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