The degree to which the public believes the central bank's announcements about future policy is its

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Credibility refers to the extent to which the public believes in the central bank's announcements about future policy. It reflects the trust and confidence that people have in the institution and its ability to fulfill its commitments. Reputation, transparency, and openness are related concepts but do not capture the same idea as credibility. Reputation refers to the public perception of the central bank's past performance and behavior, while transparency and openness refer to the level of disclosure and communication of policy decisions and actions.

The Degree to Which the Public Believes the Central Bank's