Communication
BIS to throw open doors for 90th anniversary
Delayed celebration will invite public to multimedia exhibition in main tower
Majority of central banks do not take account of forecast errors
Surveys of inflationary expectations used widely, alongside macroeconomic and market indicators
Book notes: How boards work, by Dambisa Moyo
Moyo offers insights into the skills required to be a valued board director, as well as a thought-provoking list of issues that may appear with greater frequency on future board agendas
Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”
DCash: motivations, challenges, and lessons from the first monetary union CBDC pilot
Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic CBDC in Barbados, followed by another first in the Eastern Caribbean Currency Union in March this year, with more ahead
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
Bank of Mexico increases monetary policy transparency
Central bank to start disclosing individual votes of board members after policy meetings
The distant cry of hawks? Fed begins tightening talk
Richard Clarida gives a date for hiking interest rates, as debate on taper timing continues
Brainard reiterates that inflation is ‘transitory’
Fed board member speaks after PCE inflation figure of 4% released
Communications Benchmarks 2021 report – executive summary
Insights into staffing and salaries, channels, social media, new technology and strategies
Communications Benchmarks 2021 report – making connections
Data offers insights into staffing and salaries, communications channels, social media, new technology and strategies
Most central banks communicate in at least two languages
Central banks must weigh challenge of translating sensitive messages against reach
The ECB’s monetary policy strategy review
The ECB’s founding monetary policy architect, Otmar Issing, offers some initial perspectives on the ECB’s strategy review
Senior Fed officials differ on taper
Powell stands firm, but two regional presidents suggest a sooner-than-later approach
Comms teams grow in step with central bank staff size
But budgets prove to be more varied
Wide gap between some central banks’ communications budgets
But comms salaries are fairly level between high and middle income groups
Recipe for a chief (fin)tech officer
Private-sector experience, a knowledge of supervision and a zest for innovation are key ingredients for a chief fintech officer
Email top for internal central bank communications
In-house platforms, events and seminars also widely used
Officials’ public appearances ranged from rare to frequent in 2020
Central banks take different approaches to senior officials’ online presence
FOMC minutes show some disagreement on inflation
Some participants think US inflation pressures may continue into 2022
Trust and comprehension seen as more important than audience size
Central bankers see trust as the most important measure of communications effectiveness
Somalia’s governor on rebuilding its central bank
Governor Abdirahman Mohamed Abdullahi discusses reviving Somalia’s war-damaged economy, re-creating a payments system, and dealing with remittances
Social media is top channel for two-way communication
Central banks use a variety of options to let the public give feedback and ask questions
Monitoring tools critical to measuring comms effectiveness
Facebook and YouTube remain most popular social media options, but some central banks are experimenting with others