Central banks are experiencing a labour supply issue, a microcosm of the wider battle taking place across the economy for technological talent. Public institutions such as central banks must compete with high-paying private sector tech firms for the best people.

Indeed, “the private sector is competing with the private sector”, notes Dinesh Shah, director of fintech research at Bank of Canada (BoC). “So everyone’s competing.”

Fostering an environment that recruits and retains tech talent was