Skip to main content
Article thumbnail
Location of Repository

Is ECB Communication Effective?

By Carlo Rosa and Giovanni Verga


In its Monthly Bulletin of November 2002, the European Central Bank (ECB) stated that the monthly press conference held by its President represents one of its most important communication channels and that it provides a comprehensive summary of the policy relevant assessment of economic developments. After providing a glossary to translate the qualitative information of the press conferences into an ordered scale, we verify empirically whether and to what extent market expectations react to the information released by the ECB. We found that the public not only understand but also believe the signals sent by the European monetary authority.communication, credibility, ECB, glossary, Repo, Euribor, news approach

OAI identifier:

Suggested articles


  1. (2002). Communication and monetary policy", Oxford Review of Economic Policy,

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.