02193cas a2200277 a 4500 AALejournalIMF020992 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513545646 1018-5941 BD-DhAAL BD-DhAAL Ahokpossi, Calixte. The Impact of Monetary Policy Communication in an Emerging Economy : The Case of Indonesia / Calixte Ahokpossi, Agnes Isnawangsih, Md. Shah Naoaj, Ting Yan. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (29 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Since the adoption of the inflation targeting framework by Bank Indonesia (BI), monetary policy communication has played an increasingly important role in BI's policy toolkit. This paper assesses BI's monetary policy communication from three perspectives: i) its transparency and clarity, ii) its ability to align market expectation and BI's policy decisions (predictability), and iii) its impact on financial markets. In particular, we assess the impact of BI's monetary policy practices by focusing on its monetary policy press releases and monetary policy reports. The results show that Bank Indonesia has made significant progress in the transparency of its communication as well as in the institutional framework to support this. Nonetheless, the results also suggest ways in which the impact of communication can be further improved, including by strengthening the clarity of policy messages, its consistency with the policy framework and the depth of the money market. Mode of access: Internet Isnawangsih, Agnes. Naoaj, Md. Shah. Yan, Ting. IMF Working Papers; Working Paper ; No. 2020/109 Full text available on IMF http://elibrary.imf.org/view/journals/001/2020/109/001.2020.issue-109-en.xml IMF e-Library