Communication
Central banks must focus on comms – Bank of Finland panel
Institutions need to concentrate on anchoring inflation expectations, governors say
Riksbank deputies say rate forecasting key to transparency
Officials say advantages of openness outweigh drawbacks
Dutch merchants say digital euro is good if it works offline
DNB study finds vendors wary of costs, wanting “equal or lower” fees compared with existing options
Teach people monetary policy to anchor expectations – ECB paper
Experiment run at ECB visitor centre finds strong impact from education
On the eve of the Fed’s framework review
Experts speak about the Fed’s monetary strategy review, including the role of flexible average IT and the need to better communicate policy trade-offs
Towards a new monetary policy framework for the AI age
AI may render the traditional monetary policy toolkit less effective and the familiar rules of engagement obsolete, argues Biagio Bossone
Central banks’ climate comms influence markets – CEPR column
Researchers draw conclusions after examining more than 35,000 speeches on environmental issues
Experts split over wisdom of Mexico’s 25bp rates cut
Economist says policy committee’s sole dissenter was right to vote to hold
Working group minutes: seeking better interactions on social media
Building engagement is a challenge and brings risks for central bankers
News coverage affects inflation expectations – NBER paper
Authors say bad news has bigger impact on perceptions of inflation
ECB paper finds strong policy can stop expectations de-anchoring
Communicating counterfactual scenarios can help to inform monetary policy decisions
Obituary: Süreyya Serdengeçti, 1952–2025
Governor of Turkey’s central bank whose policies brought inflation down from 75% to single-digit figures
Tailored central bank messaging boosts trust – BoJ study
Citizens are more confident about inflation forecasts when delivered by someone similar to them
The battle for the future of central banks
Inflation-targeting institutions must not simply defend against overt interference, they must also resist a sly erosion of their authority, writes Biagio Bossone
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
Finland’s Välimäki on the ECB’s monetary policy framework review
Bank of Finland board member Tuomas Välimäki discusses the benefits of a ‘hybrid’ balance sheet model to provide dependable structural liquidity without distorting markets
Central banks must rethink how they speak
Communication is critical for effective policy and social media is not merely a channel of communication, it is a space for dialogue, a feedback loop and a reputational battleground, writes Biagio Bossone
Paraguay’s Carvallo Spalding on resilience and cutting its inflation target
The Central Bank of Paraguay (BCP) governor speaks about lowering the inflation target to 3.5%, opening up to foreign investors and promoting inclusion through digital payments
Forecasting and narratives under uncertainty
Jagjit Chadha argues the Bank of England should deploy better analysis as the basis for clear communication under uncertainty
Should the Fed mandate collateral pre-positioning at the discount window?
Supervisor wants lenders to be ready to access central bank facilities, but formalising pre-positioning has some drawbacks
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
Auditors need to make friends and influence people – DNB official
Olaf Sleijpen says central banks’ internal referees need to improve their comms and people skills
Russia’s neighbours work to enable digital offline payments
Central banks in Nordic and Baltic countries prepare back-up plans in event of major internet outages
Ukraine’s Andriy Pyshnyy on the US minerals deal, ongoing reforms and post-war plans
The National Bank of Ukraine’s governor speaks about managing inflation, financial sector reform, FX reserves, international aid and actions in the event of a peace deal