Communication
Central banks: the economy’s emergency responders
When economic infrastructure is destroyed during natural disasters, central banks spring into action, engaging contingency plans to ensure the economy continues to run
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
BoE to provide ‘tailored’ assistance to African counterparts
UK central bank to share expertise with counterparts in South Africa, Sierra Leone and Ghana, as part of wider initiative to support African economies
High-frequency data helps capture ‘psychological subtlety’ – BoJ paper
Study of “tick-by-tick” data finds markets have become more sensitive to the central bank’s policy announcements
Communications on financial stability should be strengthened
The IMF’s Olga Stankova outlines how central banks and other official agencies can better communicate their financial stability work
Sarb launches its first app-based quarterly bulletin
User feedback reveals current format is cumbersome and “static”; central bank partners with external firm to create new app
Protectionism may have ‘serious consequences’ – Canada’s Lane
US tax reforms may affect Canada’s capacity to attract investment, warns deputy governor
IMF recommends Colombia improve policy communication
Fund considers the central bank has further room to lower interest rates
Haldane embraces idea of ‘citizen councils’ to support BoE’s work
Chief economist hopes the initiative will facilitate a “two-way dialogue” between the central bank and the general population
IMF stresses communication’s role in fostering stability
Neglecting its importance can lead to adverse reactions, such as misinterpretation of policies
Explicit wording sought to jolt market expectations, says Carney
Bank of England governor says committee was unusually explicit ahead of November hike to encourage markets to wake up to its signals
Implementing a holistic and dynamic risk budget
The National Bank of Denmark has implemented a dynamic risk budget that takes the bank’s unavoidable policy risks as the point of departure. The new approach has led to a reassessment of investment exposures and how they are rebalanced over time and…
Fed imposes growth cap after ‘consumer abuses’ at Wells Fargo
Troubled lender is not allowed to expand its assets further until it improves governance and controls
Riksbank renews its website to address user demands
New design preserves original structure, but makes the most demanded content more accessible
Central Banking Awards: Ireland recognised for transparency
Central Bank of Ireland, Bank of Lithuania and BlackRock win awards
Website of the year: Bank of Lithuania
Bank of Lithuania has built a website around the principle of making the most relevant information as accessible as possible for all of its audience
Central bank communications risk circularity, says BIS paper
Policy communications influence market prices and market prices influence policy, warn Stephen Morris and Hyun Song Shin
Central Banking Awards: Perng Fai-nan recognised for lifetime achievements
The first four 2018 Central Banking Awards are unveiled – banknote and currency management, consultancy, innovation in reserve management, and lifetime achievement
Banknote and currency manager of the year: Norges Bank
The Nordic central bank has redefined how its banknotes are designed, incorporating top-notch security and an innovative awareness campaign
Mester puts forward innovations in policy communication
The president of the Federal Reserve Bank of Cleveland proposes focusing on explaining policy decisions
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