Additionally, minutes are not new information about the performance of the economy. I believe that markets and policymakers are both best served if markets focus on, and react to, incoming data and the evolving outlook rather than the printed record of a past meeting released during the intermeeting period having limited, if any, predictive value for the upcoming meeting.
Conclusion In conclusion, central bank transparency is obviously beneficial, and I strongly welcome the recent trend across the globe toward greater openness. Transparency supports central bank independence and helps markets formulate policy expectations that are more consistent with the monetary authority’s intentions.