Global Sentiment: International Central Bank Transparency

Abstract

The Federal Reserve. The European Central Bank. The Bank of England. The Bank of Japan. The Reserve Bank of Australia. The People’s Bank of China. Exploring their history, politics, and processes, this book has tackled this influential group to assess the development of transparency within central banking’s most significant institutions. This is not to diminish the power of other central banks. All central banks have tremendous economic sway—if not globally, domestically—and consequently merit the attention of those who wish to have a grasp on the financial world. In light of this necessity, this chapter picks up where the last four left off, concisely cataloguing the background and current strategies of a host of additional institutions. This chapter does not cover every central bank in the world; there are over a hundred. Instead, we review a selection of institutions that represent the three general categories that central banks fall into globally: banks in developed countries that are transparent, banks in developed countries that have yet to firmly embrace transparency, and, banks, regardless of transparency, of emerging national economies. An integral element of this account will be our sentiment data and the bearing it has on each of the economies these banks preside over.