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Talking to the inattentive Public: How the media translates the Reserve Bank’s communications

  • Monique Reid

    ()

    (Department of Economics, University of Stellenbosch)

  • Stan du Plessis

    ()

    (Department of Economics, University of Stellenbosch)

Central bank communication is widely recognised as crucial to the implementation of monetary policy. This communication should enhance a central bank’s management of the inflation expectations of the financial markets as well as the general public – the latter being a part of the central bank’s audience that has received relatively little research attention. In this paper, the role of the media in transmitting the SARB’s communication to the general public is explored, with the aim of improving our understanding of its impact on the expectations channel of the monetary policy transmission mechanism. A deliberate evaluation of this channel could aid the design of future strategies to communicate with the general public.

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File URL: http://www.ekon.sun.ac.za/wpapers/2011/wp192011/wp-19-2011.pdf
File Function: First version, 2011
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Paper provided by Stellenbosch University, Department of Economics in its series Working Papers with number 19/2011.

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Date of creation: 2011
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Handle: RePEc:sza:wpaper:wpapers147
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