Monetary policy
Early comms involvement in policy raises effectiveness
Teams involved in earlier stages of policy report communications are more successful
Norges Bank bucks global trend with rate hold
Inflation has so far fallen short of the central bank’s projections
Central Bank of Brazil takes main rate to 12.75%
Committee signals it is likely to continue increasing rates at its next policy meeting in June
BoE raises rate to 1% as recession risks mount
Inflation expected to climb above 10% and GDP growth to drop to around zero
BIS economists see ‘limited’ evidence of wage-price spiral
But institutional shifts and changing expectations could set stage for greater price increases
Central banks use multiple channels for internal comms
Email and platforms developed in-house are top channels, but many others are also common
Fed makes first 50bp rate hike in decades
Central bank under pressure to curb inflation without crashing the economy
RBI hikes at unscheduled monetary policy meeting
India joins race to tighten policy, amid “vortex” of economic forces
Icelandic central bank implements largest rate hike since 2008
Despite 100bp rate hike, policy-makers signal more tightening will be needed in coming months
South Korean inflation climbs to 13-year high
Central bank concerned about record price rises
Costa Rican president-elect names next governor
Róger Madrigal López will lead central bank once new administration takes office on May 8
Colombian central bank raises rates by 100 basis points
Three board members voted for a 150bp hike
RBA hikes for first time in over 10 years
Philip Lowe says RBA will also allow the balance sheet to shrink, as inflation rises more than expected
Many central banks ‘layer’ news for different audiences
Techniques include use of differing language, visual and video presentation, and data release
Bank of Russia continues unwinding giant rate hike
Central bank cuts rate 300 basis points to 14%, in second reduction this month
Higher global inflation allows SNB to let franc rise – Jordan
Less integrated global economy could lead to persistent higher inflation, says SNB chair
Botswana hikes newly introduced policy rate
Central bank announces first rate increase since 2008 as inflation stays in double digits
Costa Rica increases pace of monetary tightening
Central bank hikes rates by 150bp as core and headline inflation continue to rise
Riksbank tightens policy for first time since pandemic's onset
Swedish central bank surprised analysts by raising rates and reducing asset reinvestments
Wide variation in comms staff numbers
Smallest communications team has just two members, and the largest over 100
How high can the ECB take interest rates?
Despite rising inflation, eurozone central bank is seen as unlikely to take rates over 1.5% in coming years
HKMA advances e-HKD exploration
Authority notes risks around cyber security and removing intermediary banks
Maintaining trust is top focus of comms teams
Benchmarking data sheds light on how central banks measure the effectiveness of communications
Kazakhstan raises policy rate by 50 basis points
Inflation hit 12% in March and expectations are “not anchored”