International
Social media ahead of traditional comms for central banks
High income institutions still skewed towards traditional channels
Central banks use wide array of external comms channels
Institutions employ about 10 media formats on average, and almost all use social media
Rise of fintech strengthens case for capital controls, IMF says
Countries may have to throw “sand in the gears” to protect monetary sovereignty, says Georgieva
Two-thirds of central banks say retail CBDC ‘possible’
BIS survey finds 90% of central banks now working on digital currencies
Email main channel for central banks’ two-way communication
A majority of central banks interact with the public through social media platforms
BIS paper says people should have more power over their data
Authors propose “consent-based architecture” to let consumers control how data is used
BIS economists see ‘limited’ evidence of wage-price spiral
But institutional shifts and changing expectations could set stage for greater price increases
Central banks use multiple channels for internal comms
Email and platforms developed in-house are top channels, but many others are also common
Central banks offer wide range of comms training courses
Many train communications staff in areas such as writing, public speaking and social media
Central bank comms staff earn $40,000 on average
Data shows wide disparity across institutions and income groups
Reserve managers stick to asset diversification
Higher yields not prompting central banks to abandon investments in less conventional asset classes
FSB-IMF report calls for action on external debt
Study finds authorities were able to manage the Covid crisis but have not fixed underlying problems
The international effort to manage NBFI risks: where do we stand?
The Covid-19 shock demonstrated more needs to be done to address stability risks posed by the NBFI sector. Maurizio Trapanese details progress made during the Italian G20 presidency as well as outstanding macro-prudential issues
Reserve managers cut duration as inflation surges
Central banks with bigger portfolios tended to combine this measure with changes in currency and asset allocation, Central Banking survey finds
Media relations is biggest job for comms teams
But website, social media and internal comms also account for significant portions of time
Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
Climate change, invasion, recession: policy-makers flag mounting risks
Christine Lagarde and Jerome Powell discuss “ripple effects” of war in Ukraine, while the Barbadian prime minister highlights need for reform at global institutions
IMF panel weighs up wholesale versus retail CBDC
Officials reflect on trade-offs involved in crypto assets and new payments technology
Russia-Ukraine war revealing financial vulnerabilities – FSB’s Knot
Commodities markets, leverage and cyber attacks “warrant further attention”, says FSB chair
Climate transition set to boost inflation, finds Swedish research
Sveriges Riksbank analyses main inflationary forces stemming from climate policies
War forcing central banks into ‘delicate balancing act’, says IMF
Sudden repricing of risk could expose vulnerabilities, fund says in latest stability report
IMF launches vehicle for SDR transfers
Fund’s aim for $45 billion in transfers seems to fall short of earlier ambitions
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
IMF paper calls for action on long-term Covid risks
Vaccination drive is falling short and is not enough on its own, authors say