Central banks need to reduce their dependence on bond market expectations, while safeguarding the smooth transmission of monetary policy, say former officials.
In a conference organised by the European Central Bank in Frankfurt today (December 18) to pay tribute to departing executive board member Benoît Cœuré, academics and policy-makers reflected on the bond market’s influence on monetary policy.
“It is important for central banks to build a culture that does not behave as paying too much
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