Looking Forward: Exiting Unconventional Monetary Policy
It is neither likely nor desirable for central banks to exit from unconventional monetary
policies in the near future. However, it is important that central banks develop an exit
strategy, evaluate the merits of new and old monetary policy tools and communicate with the
public so as to maintain financial stability, support economic growth and minimize future
inflationary risks. Central bank communication policy will turn out to be crucial and more
challenging than it was before the crisis.