They are necessary, in short, to help people understand and appreciate what central banks do and why they do it. This should allow monetary policy to be trusted by the public and central banks to be able to guide the formation of expectations and to deliver effective policymaking.
But successfully explaining to, engaging with and educating the public is far more than just a matter of removing jargon from our communication. Central banks should rst ask themselves: is our monetary policy framework suf ciently consistent, and are we open and transparent enough to allow for such engagement and understanding? Conclusion.