Calendar-based guidance uses specific date expressions for monetary easing, such as “over the next six months.” Some people consider that calendar-based forward guidance is superior to open-ended forward guidance from a transparency and effectiveness perspective. State-contingent guidance provides a clear description of the economic conditions under which the accommodative policy will be maintained by using, for example, a threshold on the inflation outlook.
(2015) Press Conference on the EDIS Proposal at the European Parliament, Strasbourg, http://europa.eu/rapid/press-release_SPEECH-15–6154_en.htm, November 2015. 21. Hill, J. (2015) Opening statement on Structured Dialogue – European Parliament: Economic & Monetary Affairs Committee, Brussels, http://europa.eu/rapid/pressrelease_SPEECH-15–6206_en.htm, November 2015. 22. Hill, J. (2015) Speech at the launch of the Commission’s Green Paper on Consumer Finance, Brussels, http://europa.eu/rapid/press-release_SPEECH-15–6293_en.htm, December 2015. 23. Hill, J.