Communication
Political and public support ‘critical’ for macro-prudential policy, says Kohn
Effective communication can help ensure public support for macro-prudential policy, BoE FPC member says; lack of support could encourage political interference
Mexican deputy calls for ‘proper consideration’ of peers
Mexican deputy stresses need for improved policy communication between advanced economies and emerging markets
Seychelles central bank will chair new financial stability committee
Advisory body will comprise representatives from four different public bodies and meet on a quarterly basis; supported by new financial stability unit within central bank
Inflation expectations well-anchored, Richmond Fed president says
Lacker tells audience at Banque de France he believes expectations are anchored, despite drop in inflation compensation; Villeroy de Galhau notes drop in market-based measures in eurozone
Economists mull how to improve Fed communications
Paper presented at US Monetary Policy Forum encourages Fed to move away from ‘time-based’ forward guidance; considers what kind of new information would be useful to markets
Irish central bank begins publishing commission minutes
Ireland’s central bank starts publishing minutes from commission meetings; oversight body’s minutes will be released ‘to provide greater understanding’ of internal debates
Research considers why macroeconomic announcements impact asset prices
A working paper published by the ECB weighs the ‘intrinsic value’ of macroeconomic news announcements in the US, finding timing is crucial to maintaining it
Kansas Fed researchers bridge gap between forward guidance data and theory
Working paper identifies empirical effects of guidance at the zero lower bound, before finding a standard model of price rigidity largely replicates the results
New Bank Negara Malaysia website gets ‘trial run’
Malaysian central bank launches new website for a trial period, before it becomes fully operational by end of March; existing site will remain functional in the interim
FCA officials grilled on second comms backlash
MPs accuse FCA of failing to recognise perceived importance of dropped bank culture review, leading to strong public backlash; chief executive says approach to communication will be reassessed
Angola central bank’s new website draws on emerging best practices
Responsive website launched for 2016; work in Brazil, Portugal, South Africa and UK were ‘points of reference’ in process
BoJ board reveals miscommunication fears
New ‘summary of opinions’ reveals some on board concerned about giving impression stimulus is at its limit, while some see dangers to taking further action
Bank of England tackles challenges flagged by staff survey
While the results show a strong, positive corporate culture at the BoE, the central bank has identified four areas for improvement
Lane tells Irish central bankers he’ll be in touch
New governor of the Central Bank of Ireland says he will be in ‘regular touch’ with his colleagues through his blog, video messages and also directly
Shift in FOMC language intended to show December hike ‘may well become appropriate’
Minutes from October meeting reveal thinking behind change in language; a ‘couple’ of members raised concerns the change could be misinterpreted as a stronger signal than it was
It is ‘OK’ if researchers challenge Bank of Canada council, Wilkins says
Senior deputy governor outlines new procedure for publishing papers independently from the governing council; advocates ‘intellectual space’ for ideas
Open Forum: BoE event highlights gulf between perception of public and regulators
Open Forum attempts to break new ground in communication, but a sense emerges that regulators have failed to address public dissatisfaction with financial markets
Fischer defends Fed independence
Attempts to make the FOMC adopt a policy rule and 'audit’ its decisions would restrict the Fed’s independence without generating much benefit, Stanley Fischer argues
Central Bank of Barbados continues digital drive
Central bank publishes its economic review in video format as part of an ongoing digital drive; governor DeLisle Worrell is driving force behind digitisation
Communication and education the answer to transparency 'paradox', says RBNZ's Hannah
Mike Hannah discusses the findings of the Reserve Bank of New Zealand's first external stakeholder engagement survey and their implications for central bank comms
ECB publishes principles to avoid market-moving missteps
‘Guiding principles’ for communications by executive board members seek to prevent select groups gaining a commercial advantage from appearances
Bank of England chief economist hosts Twitter session
Andrew Haldane calls for debate on future of banking regulation ahead of central bank’s ‘Open Forum’
Liikanen discusses logic behind publishing ‘accounts’
Bank of Finland governor says it is important central banks exhibit a ‘high degree’ of transparency, noting the ECB decided to begin publishing accounts as policy became more unconventional
BoE’s McCafferty breaks ranks in first new-style monetary policy meeting
BoE holds first monetary policy meeting under new setup and launches new format for policy communications, including inflation report redesign