In the context of monetary policy, a measure that clearly expresses the central bank’s assessments and expectations to the public. In particular, such an effect is attributed to the central bank’s interest rate steps. – See briefcase indicator, code words, ECB minutes, publication, forward guidance, guidance, verbal, moral suasion, open-mouth policy, poltergeist, soul massage, foreshadow effects, stealth policy, blur, constructive. – Cf. ECB Monthly Bulletin, April 2007, pp. 67 ff. (detailed, textbook account).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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