The Americas
People: Israel appoints new chief supervisor
IDB appoints chief operating officer; IADI gets new head; and more
Most central banks have payment and settlement supervision mandates
Payment system laws contain oversight powers in two-thirds of jurisdictions
‘Stubborn’ inflation puts an end to Canada’s tightening pause
Bank of Canada raises main rate by 25 basis points as it predicts inflation will fall to 3% in the summer
Fed contemplates rate hike or ‘skip’
Top officials indicate the terminal rate is not yet reached – but a pause is possible
Payment ecosystems remain relatively unchanged over past year
Most central banks help price RTGS services and many do for credit transfers and direct debits
ISO 20022 payments messaging adoption rate increases
Majority of central banks uphold plans to transition by 2025
More than 80% of central banks are investigating CBDC
Central banks feel negatively about retail digital currencies in their payment systems
Most central banks regulate or operate instant payment systems
Bank accounts, phone numbers and QR codes are most common access tools for instant payments
Most RTGS systems are more than three years old
Nearly 60% of central banks plan to upgrade their RTGS payment system in the next year
Most central banks use third-party payment providers
Montran, Swift, and CMA Small Systems come up repeatedly as third parties
Quantitative tightening and forward guidance need rethink, say economists
Forward guidance removes options to respond to shocks, say academics and experts
Fed walking a financial stability ‘tightrope’
Experts disagree over US regulators’ use of systemic risk exception for deposit insurance
US CPI inflation slows to two-year low
Shelter costs contribute to sticky core inflation, but headline CPI comes in below expectations
Around half of communications staff hold master’s degree or above
Over 40% of staff were hired with a communications degree on average
Most people visit central banks’ websites via search engines
Clicks on social media platforms drive around 7% of traffic to central banks’ websites
Most central banks give background briefings on key initiatives to journalists
Practice is dominant across central banks from advanced and emerging economies
Boosting social media and improving websites top priorities for comms teams
Data suggest central banks’ focus on communicating with the public
Biden may nominate Kugler, promote Jefferson on Fed board – reports
Adriana Kugler would be the first Latinx Fed governor in the central bank’s 109-year history
EME central banks favour social media, AE institutions prefer traditional channels
Central banks actively manage four social media platforms on average
Central banks most effective in monetary policy communications
All participating central banks monitor media to gauge effectiveness of communications
Atlanta Fed clarifies contingencies ahead of hurricane season
Outages could affect bank supervision, discount window, cash, cheque and ACH processing
Email, events and seminars top tools for internal communication
But few central banks have a mobile app for staff communication
Most AE central banks split internal and external communications
But those in emerging market economies tend to assign the tasks to a single team
Most central banks have centralised communications teams
Result broadly similar across central banks in advanced and emerging market economies