Communication
Brazilian central bank denies censoring board members
Dispute highlights possible political divisions as president Lula appoints officials
ECCB launches new website
Updated site accompanies “virtual museum” on Eastern Caribbean Central Bank
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates
Communications Benchmarks 2023 – presentation
Specialist Jimmy Choi discusses communication strategies, social media, staffing and more
ECB policy leaks have ‘sizeable impact’
Leaks tend to reflect minority views and reverse trends in short-term rates
Communications Benchmarks 2023 – executive summary
Data reveals comms teams’ structures and strategies, as well as key trends in media usage
Communications Benchmarks 2023 report – engaging with the public
Data reveals comms teams’ structures and strategies, as well as key trends in usage of traditional and social media
Quantitative tightening and forward guidance need rethink, say economists
Forward guidance removes options to respond to shocks, say academics and experts
Fed communication drives house price expectations – NBER paper
Researchers find people’s expectations vary widely and depend on clear explanations
Around half of communications staff hold master’s degree or above
Over 40% of staff were hired with a communications degree on average
Eurozone interest rates should increase further, says Nagel
Bundesbank president stresses ECB will start reducing balance sheet at a faster pace from July
Riksbank makes mistake publishing policy minutes
Swedish central bank says it takes the incident seriously and will strengthen procedures and controls
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
Communications departments get involved in key policy decisions at varying stages
Early communications involvement in policy decisions raises effectiveness
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
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
BSP governor warns against cutting rates faster than the Fed
Medalla’s comment follows central bank’s recent move to support the peso
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