Central banks may therefore pursue, successfully, different communication strategies, which can be appropriate and be considered optimal given the aforementioned factors and assessments. Consequently, when comparing and evaluating the features and effectiveness of the different communication strategies pursued by central banks, we should take into account the various economic, political and institutional factors as well as the elements of uncertainty a central bank faces.
The volatility seen in financial and equity markets is a symptom of this uncertainty currently most obvious in the responses to the Eurozone crisis. Structures, previously thought inviolable, such as the Euro currency, are now recognised to be vulnerable.