Communication
Explicit wording sought to jolt market expectations, says Carney
Bank of England governor says committee was unusually explicit ahead of November hike to encourage markets to wake up to its signals
Implementing a holistic and dynamic risk budget
The National Bank of Denmark has implemented a dynamic risk budget that takes the bank’s unavoidable policy risks as the point of departure. The new approach has led to a reassessment of investment exposures and how they are rebalanced over time and…
Fed imposes growth cap after ‘consumer abuses’ at Wells Fargo
Troubled lender is not allowed to expand its assets further until it improves governance and controls
Riksbank renews its website to address user demands
New design preserves original structure, but makes the most demanded content more accessible
Central Banking Awards: Ireland recognised for transparency
Central Bank of Ireland, Bank of Lithuania and BlackRock win awards
Website of the year: Bank of Lithuania
Bank of Lithuania has built a website around the principle of making the most relevant information as accessible as possible for all of its audience
Central bank communications risk circularity, says BIS paper
Policy communications influence market prices and market prices influence policy, warn Stephen Morris and Hyun Song Shin
Central Banking Awards: Perng Fai-nan recognised for lifetime achievements
The first four 2018 Central Banking Awards are unveiled – banknote and currency management, consultancy, innovation in reserve management, and lifetime achievement
Banknote and currency manager of the year: Norges Bank
The Nordic central bank has redefined how its banknotes are designed, incorporating top-notch security and an innovative awareness campaign
Mester puts forward innovations in policy communication
The president of the Federal Reserve Bank of Cleveland proposes focusing on explaining policy decisions
Central bank projections of target variables most influential - paper
Paper examines the impact of central bank forecasts and forward guidance on private sector projections, concluding most firms use them primarily as monetary policy indicators
Bank Negara buys land to create ‘financial education hub’
The land is intended for institutions promoting research into Islamic finance
BCEAO denounces ‘fraudulent’ messages on social media
The Central Bank of West African States denies the existence of false serial numbers on banknotes
Experts’ panel appointed for RBNZ mandate review
A panel of three external experts will provide a report to the Minister of Finance; group will hold its first meeting later this month
Bank of England launches beta version of new website
New website designed by Cyber-Duck, design agency which helped launch BoE’s new fiver website in 2016
Haldane: BoE working to close ‘trust deficit’
BoE chief economist says mix of “layered” communications, public engagement and education is helping to overcome perception of aloofness
Public satisfaction with BoE rises with policy understanding
The research recommends targeting young people with low incomes, as well as women
Central banks should not give impression of ‘complete foresight’
Bank of Canada officials say the goal is to convey “comprehensive assessment” of factors affecting policy while acknowledging uncertainty
Forward guidance essential in times of stress – Fed’s Evans
Chicago Fed president says central banks should plan for inevitable future scenarios now, in order to best prepare the public and to ensure policies are understood
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
People: Deputies appointed in Hong Kong and Oman
HKMA picks deputy chief executive and new director; Oman appoints vice-president; Central Bank of Kenya has new comms chief
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
Making the most of big data
Per Nymand-Andersen, adviser to senior management at the European Central Bank, discusses how central banks can benefit from embracing big data and what this could mean for the industry in the near future.
ECB defends Draghi’s membership of G30 to EU watchdog
ECB praises chance for “dynamic debate” and rejects NGO’s claim of lack of transparency