Korea's K-Dot Rate Plot Isn’t a Straight Line |
Central banks don’t look and sound like they did a generation ago. They don’t just do more, they must say more. This revolution delivered real pluses: a much-needed increase in accountability, more insight into deliberations, and formal inflation targets. But it was never going to be all good.
Particularly problematic have been efforts to describe where Federal Reserve officials envisage interest rates will land over several years, known as the dot plot. That hasn't stopped the Bank of Korea from importing the practice — it will now publish its own.