Communication
RBNZ launches review of accidental disclosure
Information on new funding for lending programme was released before policy was officially unveiled
Transparency on financial stability not always optimal – Fed paper
Author finds upside to opacity, but says central banks may face time inconsistency problem
Fed minutes reveal debate over forward guidance
Some FOMC members warned stronger forward guidance in new framework would tie Fed’s hands
Haldane makes case against ‘economic anxiety’
Communication essential to avoid caution “morphing into fear and fatalism”, says BoE chief economist
Raising inflation expectations may depress growth – Jackson Hole paper
More nuanced communication would help public understand state of the economy, say researchers
Klaas Knot on ECB policy-making, the FSB and central bank ‘capture’
The DNB president talks about unconventional policy, inflation target ‘bands’ and ‘circuit-breaking’
Central bank comms need “second sea change” – Canadian governor
Pandemic has shown importance of transparency and communications, Tiff Macklem says
Better communication boosted monetary policy effectiveness in Indonesia
Concise press releases and issuing maturities beyond one month would further improve it, says study
Weidmann to testify quarterly in parliament to explain ECB policy
Measure follows constitutional court ruling requiring ECB to demonstrate proportionality of government bond purchases
US citizens think Fed’s communication strategy needs adapting – Fed report
“Fed Listen” events revealed a lack of understanding about inflation targeting, report shows
Central bank museums grapple with lockdown
Money museums moved online to keep communicating during Covid-19 lockdown
BoE paper: narratives can help overcome ‘radical uncertainty’
Speaking directly to the public can improve analysis and communication of policy, authors find
Debts, deficits, central banks and inflation
What insights can history provide for central banks hit by large rises in government debt?
Amplifying the soundwaves: the evolution of social media communications
Central bank social media usage is on the rise, with choice of platform is shifting towards the visual
FOMC discusses communication ‘escape clauses’
Fed might need “leeway” to deal with financial instability, some FOMC members say
Bank of Mexico revamps policy communication
Board members allowed to express individual opinions and voting included in policy statements
Book notes: The long journey of central bank communication, by Otmar Issing
This book is a “masterly exposition on central bank communication, its evolution and continuing challenges”
BoE paper: simple communication can backfire
Success of communication is not measured by number of people reached, paper states
Chile’s central bank publishes historical meeting minutes
Historical minutes have been digitised in a move to improve transparency and accountability
BoE probes press conference audio feed leak
FCA investigates alleged leak of backup feed to third parties before main broadcast
RBA considered cut at latest meeting – minutes
Case was made for monetary easing, but board decided to adopt ‘wait-and-see approach’
Central banks turn to Instagram to reach younger generations
Audiovisual social media network is helping some central banks offer financial education for millennials and Gen Zs
BoE redesigns inflation report
New design intended to give MPC more flexibility in emphasising changing circumstances
Bank of Israel’s communication more accessible than Fed’s and ECB’s – research
In August, the central bank issued a special statement correcting forward guidance on lower inflation