Europe
Boosting social media and improving websites top priorities for comms teams
Data suggest central banks’ focus on communicating with the public
ECB slows down tightening with 25bp rate increase
Lagarde insists the governing council is “not pausing” its tightening cycle
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
ECB expected to slow rate increases to 25bp
Lower energy prices and smoother supply chains allow a gradual tightening process
EME central banks favour social media, AE institutions prefer traditional channels
Central banks actively manage four social media platforms on average
Eurozone inflation rises to 7% in April
Core inflation declined to 5.6%, but energy prices grew again
Central banks most effective in monetary policy communications
All participating central banks monitor media to gauge effectiveness of communications
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
Email, events and seminars top tools for internal communication
But few central banks have a mobile app for staff communication
Most AE central banks split internal and external communications
But those in emerging market economies tend to assign the tasks to a single team
Most central banks have centralised communications teams
Result broadly similar across central banks in advanced and emerging market economies
Digital euro could be available via bank apps, ECB says
Approval of third round of design options does not entail progress beyond investigation
Most communications teams outsource tasks to external providers
Outsourcing more common among central banks in emerging markets
Asset purchases stopped mutual fund crisis, ECB paper finds
ECB’s emergency purchases in Covid-19 pandemic prevented asset fire-sale spiral
Email and social media most common two-way channels
Central banks in emerging market economies prefer social media to email
ECB paper looks at borrower-based macro-pru limits
Households’ resilience and banks’ capital ratios improved by caps on borrowing
Lagarde warns fragmented world could be inflationary
“Multipolarity” could also raise global co-ordination challenges, ECB president says
EU concludes authorities cannot seize Russian assets
Brussels says Europe may be able to invest assets and use extra profits to aid Ukraine
ECB supervisory regime needs change – report
Current approach is “too capital-centric” and needs to be streamlined, says panel
Slovak prime minister urges governor to resign after bribery conviction
Peter Kažimír denies corruption and says he will defend himself in higher court
Weather affects eurozone inflation, ECB paper finds
Bloc’s four biggest economies respond differently to changes in temperature and variability
ECB has completed most of its rate hiking, says Villeroy de Galhau
Banque de France governor rejects trade-off between price and financial stability
Eurozone faces risk of entrenched inflation – Villeroy de Galhau
Banque de France governor says higher core inflation indicates widespread pressures
Global economy will be ‘anaemic’ – IMF
Inflation falling, but central banks will only reach targets over 2024 and 2025