Communication
Central bank websites vary greatly in popularity
Some get hundreds of page views per month, while others get millions
Private sector tools often used to shape comms strategies
Meltwater, Hootsuite and Fuseworks among named software providers
Email main channel for central banks’ two-way communication
A majority of central banks interact with the public through social media platforms
Early comms involvement in policy raises effectiveness
Teams involved in earlier stages of policy report communications are more successful
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
Many central banks ‘layer’ news for different audiences
Techniques include use of differing language, visual and video presentation, and data release
Central bank comms staff earn $40,000 on average
Data shows wide disparity across institutions and income groups
Wide variation in comms staff numbers
Smallest communications team has just two members, and the largest over 100
Maintaining trust is top focus of comms teams
Benchmarking data sheds light on how central banks measure the effectiveness of communications
Most central banks are bilingual communicators
Only a handful communicate in three languages, but it is common to translate at least some documents
Media relations is biggest job for comms teams
But website, social media and internal comms also account for significant portions of time
SNB has weak transparency and governance practices – report
Board risks “group-think”, as its monetary policy communication is shallow, experts argue
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
Central Banking Awards 2022: the winners in full
Recipients of the 2022 awards include Stanley Fischer, the Bank of Korea, Mario Marcel and many more
Transparency: Czech National Bank
New monetary policy report, and publication of attributed minutes and economic model raise the bar for disclosure
BoE’s Broadbent highlights perils of forward guidance
Deputy governor warns conditional guidance is often viewed as a promise to act in a certain way
Communications initiative: Bank of Jamaica
‘Centrally Speaking’ underpins not just education, but monetary policy
Governor of the year: Mario Marcel
Chile’s governor has expertly navigated a third currency crisis in two years, amid wider EM stress and political volatility, while bolstering the central bank’s capabilities
West African central bank denies devaluation
CFA franc has been pegged to European currency since establishment
BoE aims to boost comms with new ‘visual identity’
Design overhaul aims to help central bank reach a wider audience, BoE says
Bailey seeks to clarify controversial comments on wage restraint
BoE governor says firms need to curb price rises to limit impact on poorest households
Diego Labat on policy normalisation, capital flows and tech challenges
The Central Bank of Uruguay governor speaks with Christopher Jeffery and Ben Margulies about governance, financialisation, flexible rates versus capital controls, payment upgrades and CBDCs
Brazil’s Campos Neto: markets show less fear of Lula win
Presidential candidate reported to have embraced central bank independence