Europe
ECB paper suggests faster methods for estimating eurozone employment
Nowcasting tools outperform models currently used by ECB, researchers say
ECB to review staff wages after union protest
Central bank will formally review pay after works council rejects below-inflation rise
Eurozone consumer inflation expectations rose significantly, ECB says
Rise in expectations may bolster arguments for tighter monetary policy
Around half of communications staff hold master’s degree or above
Over 40% of staff were hired with a communications degree on average
Eurozone interest rates should increase further, says Nagel
Bundesbank president stresses ECB will start reducing balance sheet at a faster pace from July
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
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
Boosting social media and improving websites top priorities for comms teams
Data suggest central banks’ focus on communicating with the public
ECB slows down tightening with 25bp rate increase
Lagarde insists the governing council is “not pausing” its tightening cycle
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
ECB expected to slow rate increases to 25bp
Lower energy prices and smoother supply chains allow a gradual tightening process
EME central banks favour social media, AE institutions prefer traditional channels
Central banks actively manage four social media platforms on average
Eurozone inflation rises to 7% in April
Core inflation declined to 5.6%, but energy prices grew again
Central banks most effective in monetary policy communications
All participating central banks monitor media to gauge effectiveness of communications
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
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
Digital euro could be available via bank apps, ECB says
Approval of third round of design options does not entail progress beyond investigation
Most communications teams outsource tasks to external providers
Outsourcing more common among central banks in emerging markets
Asset purchases stopped mutual fund crisis, ECB paper finds
ECB’s emergency purchases in Covid-19 pandemic prevented asset fire-sale spiral
Email and social media most common two-way channels
Central banks in emerging market economies prefer social media to email
ECB paper looks at borrower-based macro-pru limits
Households’ resilience and banks’ capital ratios improved by caps on borrowing