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Communication is becoming such a policy focus that U.S. Federal Reserve Chair Janet Yellen, European Central Bank President Mario Draghi, Bank of Japan Governor Haruhiko Kuroda and Bank of England Governor Mark Carney are meeting in Frankfurt Tuesday to discuss how central banks should speak.Fed governors talk on an almost daily basis, Kuroda speaks frequently and some of the ECB's 25 rate-setters appear to live a life of their own, sometimes giving speeches at odds with the European central bank's main policy lines.Interest rates are expected to stay below historic averages for years, if not a decade, so the scope for actual rate changes has diminished and promises about future policy will play a bigger role in guiding markets, central bankers say.The Fed estimates that neutral interest rates are 2.75 percent, down from 4.25 percent before the crisis, but current rates are still less then half this despite four rate rises by the Federal Open Market Committee since the end of 2015 .It may end its 2.55 trillion euro ($3 trillion) asset purchases next year but will still be far from raising interest rates.
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