Communication
Central Banking Awards: Ireland recognised for transparency
Central Bank of Ireland, Bank of Lithuania and BlackRock win awards
Mester puts forward innovations in policy communication
The president of the Federal Reserve Bank of Cleveland proposes focusing on explaining policy decisions
Central bank projections of target variables most influential - paper
Paper examines the impact of central bank forecasts and forward guidance on private sector projections, concluding most firms use them primarily as monetary policy indicators
Riksbank’s Jansson changes his mind on leaning against wind
Deputy governor says his position on the policy has shifted with the benefit of hindsight
Bank of England launches beta version of new website
New website designed by Cyber-Duck, design agency which helped launch BoE’s new fiver website in 2016
Haldane: BoE working to close ‘trust deficit’
BoE chief economist says mix of “layered” communications, public engagement and education is helping to overcome perception of aloofness
Public satisfaction with BoE rises with policy understanding
The research recommends targeting young people with low incomes, as well as women
Central banks should not give impression of ‘complete foresight’
Bank of Canada officials say the goal is to convey “comprehensive assessment” of factors affecting policy while acknowledging uncertainty
Forward guidance essential in times of stress – Fed’s Evans
Chicago Fed president says central banks should plan for inevitable future scenarios now, in order to best prepare the public and to ensure policies are understood
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
RBA looking to handle uncertainty better, says Debelle
Reserve Bank of Australia to change way it presents forecasts in order to avoid false impression of precision
More communication may hamper monetary policy, paper says
Independence and bigger MPCs may convey confusing messages and provoke forecast errors
Central banks should take transparency further, economist argues
Dissenting MPC members can hide behind vagueness and “verbiage”, says Tony Yates
Banks ‘still groping toward’ macro-pru transparency – Eichengreen
Central bank governance expert says central bank transparency is getting better around the world, although New Zealand, Argentina and some Central American institutions could make improvements
Eichengreen supports calls for FOMC to hold more press conferences
Governance expert says Fed is one of the most transparent central banks in the world but improved consistency of format around FOMC meetings “makes sense”
Chile puts board members in spotlight with decision-making overhaul
Changes aim to make communication more transparent while aligning central bank with international best practice; eight meetings will now take place each year
Bank of Canada rebuts ‘epic fail’ communication claim
Central bank’s head of comms rejects criticism from Bank of Montreal that policymakers failed to properly signal its recent rate hike
Better information bolsters policy pass-through – BoE paper
Where agents lack access to perfect information, publishing forecasts influences potency of monetary policy, study finds
Riksbank’s deputy argues for changes to monetary policy regime
Mulled changes would remove distortions, analysts say
RBI launches economics blog
“Mint Street Memos” comprise brief reports and analysis from RBI economists; first post studies beneficial effects of demonetisation for “financialisation” of savings
BoJ faces growing communications challenge
Japanese central bank embarks on its third attempt at unlimited fixed-rate outright JGB purchases; further fiscal stimulus would do little to help
St Louis’s Bullard on the future of the Fed and its monetary policy record
St Louis Fed president James Bullard rails against east coast dominance, favours aspects of the Choice Act and says Fed monetary policy was a “factor” that fuelled crisis
FSB turns to video in effort to widen comms reach
“Safer, simpler, fairer” video seeks to broaden communications effort to a less specialised audience
Inflation data causes rift in FOMC
Fed officials discuss whether incoming low inflation data is “transitory” or is a sign of worrying things to come; minutes outline balance sheet unwinding but date remains unknown