On today’s Morning Macro, John Ashbourne of Capital Economics gives us a preview of three Emerging Market central bank decisions this week: the South African Reserve Bank, Mexico’s Banxico, and the Czech National Bank.
All three are facing unique political circumstances which inevitably feed into the macroeconomic environment and therefore monetary policy decisions.
In Part 2, Tom speaks to John Hogan Morris, an academic in University College London’s geography department, who’s doing original work into the ‘performativity’ of central bank communications.
‘Open mouth operations’ got a lot of coverage during the eurocrisis, but the term – and certainly the phenomenon – have been around for years. He also explains how the language describing stress tests is key to their effectiveness.
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