Communication
Central bank heads agree on consensus, but reject groupthink
French, Nigerian and Swiss chiefs discuss their diverse approaches to monetary policy decision making
Pre-emptive policy has built credibility, says Georgian governor
Enriched monetary policy toolkit assesses whether shocks are transitory in a volatile world
Hammack: explaining Fed moves is accountability via transparency
Cleveland Fed CEO says setting out the reaction function is not the same as forward guidance
Now more important that inflation does not exceed target – Ueda
Reports say Japan’s central bank is preparing to state that price growth has hit 2%
Fed should avoid communicating without a framework – Musalem
St Louis Fed president outlines his preferred view of monetary policy comms
BoJ minutes show calls for faster rate hikes
Board member said focus of monetary policy had shifted towards capping price rises at June meeting
BoE using LLM to review meeting minutes
Bailey says he has “mixed feelings” about use of AI in communications
SNB’s hikes swing expectations, but its cuts do not – study
Swiss households respond to tightening and holding, but loosening fails to shift views
Bessent believes BoJ will act in support of yen
‘I have information that the market doesn’t have,’ US Treasury secretary says
Warsh declines to outline Fed’s reaction function
Chair tells Jackson Hole that ‘humble, never naïve’ approach will work and assesses US economy
Will Kevin Warsh’s communications gambit pay off?
Fed chair believes less is more with comms, but experts say time is ticking on his credibility
How do central banks handle criticism in the media?
Comms staff say critiques often are constructive while stressing the need for simple language
BoE staff find uneven policy transmission across businesses
Survey findings suggest larger firms with high productivity and borrowing have better access to data
ECB speeches ‘twice as religious’ as other central banks’ – blog
Bank’s speechwriters use devotional tropes during times of crisis, LSE research finds
Comms staff need to reflect on how their messages are perceived
BoE’s Eric Tong discusses research probing how the public receives central bank messages via the media
Europe’s central banks say ‘No!’ to priority Truth Social access
Monetary authorities do not see value in seeing US president Donald Trump’s posts immediately
Anchoring expectations ‘critical’ in energy shock – BIS researchers
Most significant shock since the 90s Gulf crisis “may warrant hiking rates more quickly”
Book notes: Money: the inside story, by Rupal Patel and Jack Leslie
BoE’s latest explainer provides an entertaining and accessible guide to finance
Juha Park on the BoK’s updated monetary policy framework
Bank of Korea’s head of monetary policy communication says pre-Shin updates align with new governor’s thinking
BoE’s MPC statements not sufficiently ‘collective’, says Bean
Former deputy governor laments ‘excessive and potentially confusing emphasis on individual views’
Bullock questions whether RBA has tightened enough
Governor says Australia’s economy is cooling, but more hikes will come if they are deemed necessary