Articles by Central Banking staff
Majority of central banks plan to revamp website in next two years
Institutions aim to improve visual design, information architecture and user experience on their sites
Traditional comms still a bigger focus than social media
Lower-middle income teams less likely to track external communications
External comms impact gauged by trust and comprehension
Absolute numbers of appearances, social media engagement and market indicators rank lowest
Facebook, LinkedIn, X are top social channels
Central banks see “interactions” as key metric for tracking social media
Comms teams becoming less involved in key policy decisions
Early involvement appears to raise effectiveness in monetary policy communication
Central banks report varied approaches to layering comms
Many institutions use video and infographics to make key reports more accessible
Neutral interest rates at pre-pandemic levels, Bank of Canada finds
Nominal neutral interest rates in both countries sit between 2.25% and 3.25%
Communications Benchmarks 2024 Charts
Take a deep dive into the Communications Benchmarks charts, which have just been released for 2024.
Email and social media still top two-way comms channels
Only teams from Asia-Pacific central banks report use of live website chat
Comms staff rarely hold PhD qualifications
Social media and writing skills remain leading areas for capacity building
Female staff make up over 60% of average comms team
Employees most likely to fall in age category of 40–49
Media relations, social media and website are top comms tasks
International communications, museum visits and speechwriting rank least
Press releases, conferences and website are top external channels
Email remains main tool for internal communications among central banks
One in five communications teams use AI for their work
Data suggests uses of AI are still at an initial stage among communications departments
Comms teams average less than 2% of central bank workforce
Majority of units operate centralised communications models
Stress-test failures increase banks’ M&A scrutiny, Fed research finds
US lenders’ merger-related activity improves if they have failed tests, authors say
Mexico needs reform to fulfil potential – Dallas Fed paper
Anti-trust measures, easier market entry and FDI should aid growth, researchers say
High interest puts pressure on US cattle farms – research
Wildfires and rising input prices are exacerbating factors, Kansas City Fed research says
Central banks reveal top staffing constraints
Career progression limits, skills gaps and red tape identified as challenges
Most high income central banks lack formal recapitalisation agreements
Seven respondents report launching recapitalisation in past year
Central banks’ profit distribution widely agreed with governments
Few institutions have arrangements with other parties or private shareholders
Two-thirds of central banks report profit in last fiscal year
Few institutions seek recapitalisation and technological advancement for operational goals
Board non-execs more likely to be appointed by governments
Middle income central banks tend to have more government officials on board
Banknotes: January to March 2024
A round-up of news and salient issues that have affected central bankers in the past three months