Communication
Central bank projections of target variables most influential - paper
Paper examines the impact of central bank forecasts and forward guidance on private sector projections, concluding most firms use them primarily as monetary policy indicators
Bank Negara buys land to create ‘financial education hub’
The land is intended for institutions promoting research into Islamic finance
BCEAO denounces ‘fraudulent’ messages on social media
The Central Bank of West African States denies the existence of false serial numbers on banknotes
Experts’ panel appointed for RBNZ mandate review
A panel of three external experts will provide a report to the Minister of Finance; group will hold its first meeting later this month
Bank of England launches beta version of new website
New website designed by Cyber-Duck, design agency which helped launch BoE’s new fiver website in 2016
Haldane: BoE working to close ‘trust deficit’
BoE chief economist says mix of “layered” communications, public engagement and education is helping to overcome perception of aloofness
Public satisfaction with BoE rises with policy understanding
The research recommends targeting young people with low incomes, as well as women
Central banks should not give impression of ‘complete foresight’
Bank of Canada officials say the goal is to convey “comprehensive assessment” of factors affecting policy while acknowledging uncertainty
Forward guidance essential in times of stress – Fed’s Evans
Chicago Fed president says central banks should plan for inevitable future scenarios now, in order to best prepare the public and to ensure policies are understood
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
People: Deputies appointed in Hong Kong and Oman
HKMA picks deputy chief executive and new director; Oman appoints vice-president; Central Bank of Kenya has new comms chief
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
Making the most of big data
Per Nymand-Andersen, adviser to senior management at the European Central Bank, discusses how central banks can benefit from embracing big data and what this could mean for the industry in the near future.
ECB defends Draghi’s membership of G30 to EU watchdog
ECB praises chance for “dynamic debate” and rejects NGO’s claim of lack of transparency
Tapping into big data’s potential
Central Banking convened a panel of experts to discuss how central banks can harness big data for their needs, hopefully without falling foul of some of the many pitfalls that await.
RBA needs representative for the poor – religious group
The proposed new board member would help the central bank understand the effect monetary policy has on the poor, says group
More communication may hamper monetary policy, paper says
Independence and bigger MPCs may convey confusing messages and provoke forecast errors
Central banks should take transparency further, economist argues
Dissenting MPC members can hide behind vagueness and “verbiage”, says Tony Yates
Banks ‘still groping toward’ macro-pru transparency – Eichengreen
Central bank governance expert says central bank transparency is getting better around the world, although New Zealand, Argentina and some Central American institutions could make improvements
Eichengreen supports calls for FOMC to hold more press conferences
Governance expert says Fed is one of the most transparent central banks in the world but improved consistency of format around FOMC meetings “makes sense”
Chile puts board members in spotlight with decision-making overhaul
Changes aim to make communication more transparent while aligning central bank with international best practice; eight meetings will now take place each year
Bank of Canada rebuts ‘epic fail’ communication claim
Central bank’s head of comms rejects criticism from Bank of Montreal that policymakers failed to properly signal its recent rate hike
People: RBNZ continues reshuffle; Fed appoints payments leader
Mills to fill Bascand’s shoes at RBNZ as assistant governor moves to financial stability; St Louis Fed vice-president to initiate faster payments project for the US central bank; and more
Better information bolsters policy pass-through – BoE paper
Where agents lack access to perfect information, publishing forecasts influences potency of monetary policy, study finds