Central Bank Communication and Forward Guidance

In modern central banking, effective communication is as critical a policy tool as interest rate adjustments. This course provides a comprehensive exploration of the theory and practice of central bank communication, with a sharp focus on **Forward Guidance (FG)**. Participants will learn how to strategically manage market expectations, enhance policy effectiveness, and ensure accountability through clear, consistent, and transparent public statements. The curriculum covers the design of communication strategies for both routine decisions and crisis management, addressing the complexities of verbal communication, press conferences, published minutes, and the use of qualitative versus quantitative guidance.