Asia-Pacific
Ueda says BoJ’s long-term rates have risen ‘somewhat rapidly’
Japan’s central bank will purchase government bonds if yields continue to rise, governor says
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
HKMA asks Hong Kong’s banks to assist victims of apartment fire
Lenders requested to offer liquidity, repayment flexibility and replace documents for those affected
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
Confidence in dollar undiminished since April, says BIS’s Shin
Institution’s head of monetary and economic policy says no hard evidence of shift from US currency
Communications teams use AI mainly for drafting
But use cases vary according to team structures
People: Saudi governor elected to BIS board
Plus senior appointments in Asia, the Middle East and Europe
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
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
Hong Kong and Saudi Arabia to launch $1bn fund
HKMA will team up with Saudi sovereign wealth fund to help Chinese firms invest in Middle East
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
BoE, MAS and BoT to test synchronised FX settlement
Project will use ‘synchronisation operator’ to achieve atomic settlement
People: Bostic to step down from Atlanta Fed
Plus new appointments in Botswana, Estonia, Slovakia, Singapore and at BIS
MAS to issue tokenised bills and draft stablecoin law
MD says Singaporean banks completed first CBDC interbank overnight lending settlement
India to set up remittance link with Bahrain
Bilateral corridor will facilitate instant payments by Gulf kingdom’s large Indian community
Asia-Pacific central banks list geopolitics, AI among key challenges
EMEAP, representing monetary authorities from across region, commits to strengthening co-operation