Chapter 21. Communications Strategies in Central Banking: The 2005 Mumbai Regional Seminar

Abstract

Over the past decade central banks in liberalized market economies have moved from intrusive interventions and regulatory controls to operating with a limited set of instruments. In part this has reflected the growing ineffectiveness of a control approach to monetary policy in an environment where market resources are deep and have diverse channels through which to operate; in part it reflects recognition of the benefits of allowing markets the maximum role in allocating resources subject to the overall policy constraint.

Case Studies in Technical Assistance