Communication
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan; urges ECB to reject Fed-like average inflation targeting
BoE considering legal action over hoax press release
Group calling themselves the ‘Yes Men’ claimed credit for the fake
The dawn of average inflation targeting
The Fed has failed to explain how it will calculate the ‘average’ for its new AIT framework, raising new risks that central bankers would do well to reflect on
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
Lane’s calls to investors stir controversy ahead of key ECB meeting
Chief economist’s private discussions with investors after policy meetings come under scrutiny
Phillipines central bank says new website has improved comms
BSP says website’s mobile-friendly design and chatbot has boosted effectiveness
Olli Rehn on AIT, market neutrality and EU fiscal policies
The Bank of Finland governor talks about the ECB’s strategy review, market failure on climate change, lessons from the sovereign debt crisis, and the Draghi legacy effect on Covid-19 responses
RBNZ launches review of accidental disclosure
Information on new funding for lending programme was released before policy was officially unveiled
Currency Benchmarks 2020 report – the data behind the cash cycle
Perspectives on staffing, circulation, forecasting, fraud, substrate choice, outsourcing and climate risk
Green projects ‘demanding’ to find – Norway’s SWF head
Chairman tells lawmakers he may expand fund’s use of external managers
The winners of the 2020 FinTech and RegTech Global Awards
Central banks and their partners have innovated across machine learning, cloud services, payments and more
Websites are top currency communication tool
More than two thirds of currency managers use social media; regional disparities emerge on preferred communication tools
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Transparency on financial stability not always optimal – Fed paper
Author finds upside to opacity, but says central banks may face time inconsistency problem
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
People: RBI names new deputy governor
Career central banker gets promotion at RBI; ECB picks new comms chief; BoE FPC member reappointed
Ukrainian governor denies wanting to force deputies out
Shevchenko says reprimand was over communications, but observers warn of political pressure
Fed minutes reveal debate over forward guidance
Some FOMC members warned stronger forward guidance in new framework would tie Fed’s hands
BoE may update resilience guidance, post-Covid
Granular targets on minimum service provision after outages could be revisited, adviser suggests
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
Haldane makes case against ‘economic anxiety’
Communication essential to avoid caution “morphing into fear and fatalism”, says BoE chief economist
Is there a rift in the ECB governing council?
Mixed messages from Christine Lagarde were followed by sharp divergence among board members
Fed’s new framework has had little impact on expectations – NBER paper
Early evidence suggests few people heard the announcement and fewer understood it
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer