Communication
Asset purchase programme is key to central bank credibility – ECB paper
Researchers analyse market reactions to unconventional monetary policy decisions
Sarb monetary policy committee does not suffer from ‘groupthink’ – Kganyago
Sarb governor says there are often disagreements when it comes to policy decisions; central banks have now become “masters of communication”
Book notes: Fed Up, by Danielle diMartino Booth
A “fascinating but annoying” account by a US Federal Reserve insider who openly criticises the culture of the US central bank and policy decisions made by the institution leading up to and following the financial crisis
Norges Bank hooks viewers with fishy banknote video
“The cod is coming” music video proves a hit, helping to advertise the central bank’s new banknote series
Tackling the ‘human agency’ problem
Central banks are readying their communication strategies to mitigate a populist backlash against their post-crisis policies
Bank of Lithuania tailors new website to different audiences
Central bank launches redesigned website with the aim of making it easier to use; includes new sections designed for specific audiences while data presentation received overhaul
Bank of Canada’s Vardy and Harrison on the move to ‘peacetime’ communications
Central bank has reshaped its communications approach post-crisis, embedding it into the policy process and encouraging markets to think for themselves
No ‘taper tantrum’ this time around – Fischer
Fed vice-chair says US central bank has learned from mistakes made in 2013; markets unlikely to face same disruptions as Fed unwinds balance sheet, says Fischer
Haldane: central banks could ‘gamify’ communications
The game Monopoly could be the next tool in central bank’s communication toolbox, Haldane says, warning complex language breeds distrust
Bank of Israel revamps policy communications
New approach to communicating monetary policy decisions as committee moves to an eight-meeting cycle
Bank of Canada’s C$460m refurbishment on time and on budget – Poloz
Construction workers have spent past three years gutting old head office and renewing interior to meet modern standards; annual report sheds light on costs
Time to shrink Fed’s $4.5 trillion balance sheet, say presidents
Cleveland Fed president is “comfortable” changing reinvestment programme this year; balance sheet plan should be published as soon as possible, says Kashkari
Fed needs quarterly monetary policy report, Bullard says
St Louis president argues for better Fed communication when it comes to monetary policy decisions; a quarterly report would align the US with international best practice
Shafik calls for candidness on uncertainty in her final speech
Outgoing Bank of England deputy says central banks must do more than just increase transparency if they are to restore trust
Nigeria’s central bank rolling back forex restrictions
Allocation rules are scrapped under the new regime, while all forex dealers must open outlets at airports to aid travellers; additional forex is to be made available for tuition and medical expenses
Website of the year: Central Bank of Kenya
The East African central bank has embraced responsive design to cater for an increasingly mobile audience, eclipsing the websites of many peers
Transparency: Bank of Canada
Communications embedded in the policy process, fresh thinking on shared content and an expanded senior team show the central bank’s commitment to staying at the leading edge of transparency
Canada’s Schembri highlights new inflation communication method
Bank of Canada has adopted three-pronged core inflation approach but now only publishes forecasts of headline inflation in its reports
FMI transparency needs to improve, Chile deputy says
Central bank leading by example with regard to improved FMI transparency and governance; disclosure framework for central bank’s settlement system to be completed in 2017
Bank of Ghana improves communications strategy
A new 24-hour contact centre will allow queries from members of the public to be answered at all hours; the central bank encourages feedback on its communications
Central Bank of Brazil sets out agenda for 2017
Improved governance and financial inclusion at the top of the list for the central bank; aims have been published on an innovative interactive webpage
Updated Bank of Mauritius survey questions people on inflation causes
Latest survey shows Mauritian stakeholders are wary of external factors; exchange rate was viewed as second most important factor under new question format
Bank of Japan to launch new website in time for 2017
New responsive design will include information from the old site displayed in new format; central bank has set second launch date in case of “delays”
Ink rubbing off notes ‘quite normal’, says Zimbabwe governor
Despite public outcry, governor says bond notes have so far been a success; launch of second tranche to bring total value of bond notes in circulation to $17 million