Communication
Tailored central bank messaging boosts trust – BoJ study
Citizens are more confident about inflation forecasts when delivered by someone similar to them
BoE’s MPC should publish individual rate forecasts – Taylor
Newest committee member discusses r* and calls for greater transparency around forward guidance
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
Central banks must rethink how they speak
Communication is critical for effective policy and social media is not merely a channel of communication, it is a space for dialogue, a feedback loop and a reputational battleground, writes Biagio Bossone
Forecasting and narratives under uncertainty
Jagjit Chadha argues the Bank of England should deploy better analysis as the basis for clear communication under uncertainty
Bank of Canada cuts rates by 25 basis points
Monetary policy “cannot offset the impacts of a trade war”, says central bank
Medium is the message, say Bank of Spain researchers
Coverage of policy decisions has greater impact than central banks’ own comms, study finds
Central banks’ words matter for climate
Line between EMEs speaking about greening finance and AEs being wary of climate risks are blurring, argues Emanuele Campiglio
ECB presidents’ displays of emotion affect markets – study
Research says leaders’ facial expressions and tones of voice amplify effects of their policy statements
Book notes: A fly on the RBI wall: an insider’s view of the central bank, by Alpana Killawala
This book offers insights into the inner workings of the growing Indian economy and pro tips on communication
The frontiers of AI in central bank communications
Comms experts assess technology's value in video production, message generation and more
‘No compelling case’ for a Eurosystem dot-plot – Nagel
Bundesbank president says uncertainty needs to be communicated more clearly
Alpana Killawala on communications under six governors at the RBI
The former RBI comms chief speaks about the importance of strategic communications, courting the media, open mouth operations and altering a governor’s ‘rock star’ image
Costa: communication was key during high inflation period
Chile’s central bank governor says explaining price rises to public brought new challenges
ECB’s Cipollone positive about September rate cut
Data “confirms our direction of travel”, board member says
Communications Benchmarks 2024 – model banks analysis
Additional breakdowns of the data highlight differences in emerging market and advanced economies
Communications Benchmarks 2024 report – emerging trends
Benchmarks highlight increased use of traditional media, comms staff’s shrunken roles in policy-making and exploration into AI
Most comms teams aim for social media boost in 2025
Top priorities for next year align with 2023 benchmark findings
Press releases outnumber officials’ public appearances
Statistical bulletins also rank as most published document annually
Majority of central banks plan to revamp website in next two years
Institutions aim to improve visual design, information architecture and user experience on their sites
Traditional comms still a bigger focus than social media
Lower-middle income teams less likely to track external communications
External comms impact gauged by trust and comprehension
Absolute numbers of appearances, social media engagement and market indicators rank lowest
Facebook, LinkedIn, X are top social channels
Central banks see “interactions” as key metric for tracking social media
Comms teams becoming less involved in key policy decisions
Early involvement appears to raise effectiveness in monetary policy communication