Communication
Central banks’ social media share ticks up
Social-traditional media split for communications roughly the same across different regions
BoJ to tighten policy if economic projections hold, says Ueda
Governor says economy increasingly likely to realise bank’s baseline projections
Comms teams see dis/misinformation on social media as key risk
Criticism from government ranks as smallest risk
Website upgrades are comms teams’ top priorities for next year
Commitments differ somewhat by departmental structure
BoJ board member says rate hikes should continue
Noguchi calls for cautious approach to ensure inflation target is met
Larger comms teams involved earlier in policy decisions
Most departments become involved in duty after decisions are taken
Hybrid teams widely employ social media for two-way communications
Most respondents use strategies to address crises and disinformation
Communications teams use AI mainly for drafting
But use cases vary according to team structures
LinkedIn, Facebook and YouTube are top comms platforms
Over a third of communication teams adopted new platforms in the past year
Central banks universally communicate internally via email
Additional tools used vary somewhat by system efficiency and structure
BoJ governor reaffirms preference for rate hikes
Ueda says policy normalisation should continue amid near-zero output gap and tight labour conditions
Social media and press releases are primary external comms channels
Impact assessment tools vary across teams by structural approach
Three in four comms teams report non-staff resource adequacy
Senior staff make up roughly half of departments across jurisdictions
Ueda outlines BoJ policy in first meeting with new PM
Governor says monetary policy will guide inflation smoothly towards 2% inflation target
Centralised comms unit staff earn lesser salary than peers
FTE employees average roughly 20 personnel across central banks
Hybrid comms teams prioritise website over other activities
Communications department budget averages just over $1 million yearly
Central banks speak opaquely to avoid overreaction – ECB study
Authors say institutions tend to communicate more clearly when they know their reputations are low
Emerging market central banks should be hawkish – NBER paper
Stronger reactions to inflation surges help to build institutions’ reputations, researchers argue
ECB and BoJ officials reject explicit forward guidance
Central bankers promote ‘meeting-by-meeting’ approach to rates setting
The voice of the central bank in times of uncertainty
The NBU’s monetary policy head Volodymyr Lepushynskyi explains the importance of transparent communications in maintaining trust and managing expectations
Riksbank deputies say rate forecasting key to transparency
Officials say advantages of openness outweigh drawbacks