Communications Benchmarks 2021 report – executive summary
Insights into staffing and salaries, channels, social media, new technology and strategies
The field of central banking has come a long way since former Bank of England governor Montagu Norman uttered his dictum: “Never explain, never excuse”. Now, central banks must explain most of their decisions and are rightly held accountable to society. Not only this, but the recognition that expectations play a key role in policy means communication is a tool central banks must use adroitly if they are to meet their mandates. The consequences of mistakes can be severe.
The past year has been
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Over 40% of staff were hired with a communications degree on average
Most people visit central banks’ websites via search engines
Clicks on social media platforms drive around 7% of traffic to central banks’ websites
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