Proceedings of the 3rd International Conference on Culture, Education and Economic Development of Modern Society (ICCESE 2019)

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The Connotation and Channel of the Central Bank's Monetary Policy Communication in the Post-crisis Era and Its Implications for China

Authors
Wen Xu
Corresponding Author
Wen Xu
Available Online April 2019.
DOI
10.2991/iccese-19.2019.400How to use a DOI?
Keywords
central bank; monetary policy communication; forward-looking guidance; Federal Reserve Board; People's Bank of China
Abstract

The central bank's monetary policy communication is not only the delivery of monetary policy information facing to the public, but also possesses the property of monetary policy tool which is continuously manifested with the development of central bank's monetary policy operation. After the international financial crisis in 2008, the failure of traditional monetary policy tool promotes main central banks in the world to pay closer attention to the monetary policy communication, especially the important role of forward-looking guidance in guiding public expectation, improving the efficiency of monetary policy and recovering the normal operation of financial system. The People's Bank of China also pays more and more attention to the role of monetary policy communication and is also continuously expanding communication channels and has achieved certain effects. However, compared with that of western developed countries, the monetary policy communication of central bank has still not become a kind of strong monetary policy tool which still needs further improvement.

Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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Volume Title
Proceedings of the 3rd International Conference on Culture, Education and Economic Development of Modern Society (ICCESE 2019)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
April 2019
ISBN
10.2991/iccese-19.2019.400
ISSN
2352-5398
DOI
10.2991/iccese-19.2019.400How to use a DOI?
Copyright
© 2019, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

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PY  - 2019/04
DA  - 2019/04
TI  - The Connotation and Channel of the Central Bank's Monetary Policy Communication in the Post-crisis Era and Its Implications for China
BT  - Proceedings of the 3rd International Conference on Culture, Education and Economic Development of Modern Society (ICCESE 2019)
PB  - Atlantis Press
SP  - 1839
EP  - 1843
SN  - 2352-5398
UR  - https://doi.org/10.2991/iccese-19.2019.400
DO  - 10.2991/iccese-19.2019.400
ID  - Xu2019/04
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