Africa
Most central banks give background briefings on key initiatives to journalists
Practice is dominant across central banks from advanced and emerging economies
Boosting social media and improving websites top priorities for comms teams
Data suggest central banks’ focus on communicating with the public
EME central banks favour social media, AE institutions prefer traditional channels
Central banks actively manage four social media platforms on average
Central banks most effective in monetary policy communications
All participating central banks monitor media to gauge effectiveness of communications
Email, events and seminars top tools for internal communication
But few central banks have a mobile app for staff communication
Most AE central banks split internal and external communications
But those in emerging market economies tend to assign the tasks to a single team
Most central banks have centralised communications teams
Result broadly similar across central banks in advanced and emerging market economies
Most communications teams outsource tasks to external providers
Outsourcing more common among central banks in emerging markets
Email and social media most common two-way channels
Central banks in emerging market economies prefer social media to email
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
Few central banks report recruitment difficulties
Central banks from emerging market countries more likely to say they face problems finding staff
Advanced economy central banks more likely to make profits
Majority of central banks report profits in most of last five years
Rates round-up: Kenya raises rates to highest since 2018
Sarb adds 50bp more as economy struggles; Zimbabwe cuts 1,000bp; Mozambique holds
Central banks differ on profit-sharing agreements
Advanced economy central banks more likely to have formal agreements on profit distribution
Most central banks satisfied with policy autonomy
EME central banks say they are more likely to face pressure over monetary policy
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
Some internal policies differ by country income
Central banks likely to have ethics codes and whistleblower policies regardless of national income
Most central banks disclose governors’ salaries
Governors’ salaries show moderate correlation with countries’ per capita GDP
Boards’ make-up differs across jurisdictions
Emerging market economy boards more likely to include government officials and ministers
Countries vary on governor appointment powers
Poorer countries more likely to combine powers, while richer ones split responsibilities
Central banks’ roles differ by national wealth
Few central banks have task of overseeing sovereign wealth funds
Most governments can change mandates without consulting central banks
Most jurisdictions’ central bank laws either limit or forbid monetary financing
Central banks differ over board term limits
Nearly half of responding central banks impose no term limits on board members
EME governors more likely to leave role early
Emerging market economy countries also less likely to limit number of terms governors can serve