In the current instance, the Bank's decision to present its  BIS Review 66/2004  5  thinking in the Outlook Report was taken under the premise that central banks and market participants should broadly share, to the extent possible, a common understanding about the conduct of monetary policy.
This should make it possible to avoid undue speculation when changes are made to an unprecedented policy framework such as the current quantitative easing. With this in mind, the Bank will continue to maintain effective communication with market participants. 6  BIS Review 66/2004