In view of changing geopolitics, technological innovations and the repercussions of Covid-19, the need for central banks to explain their thinking behind policy decisions to a widespread audience is becoming increasingly important. The Federal Reserve, European Central Bank, Bank of England and other leading central banks have shown increased interest in engaging not just with specialists but also with ordinary citizens. The content for this program is based on Official Monetary and Financial Institutions Forum’s research including reports which showcase social media as an indispensable additional tool for central banks in communicating their message. OMFIF has also carried out a survey on public trust in central banks compared with the private sector for delivering digital currencies – highlighting how central banks were much more trusted than the private sector in this role.
David Marsh is an expert in central bank communications, having spent his earlier career as a Financial Times journalist before moving into banking and later founding OMFIF. Central bankers will have the opportunity to connect with each other as well as with finance ministries and the private sector. The session allows for open Q&A where David will share examples of best practice and help close potential gaps on how central bankers can communicate their thinking to those outside their halls.
At the end of the program, participants will:
- Have a better understanding of how other central banks communicate their message;
- Gain greater knowledge of the pitfalls as well as the opportunities of efforts to improve communication;
- Be able to reflect on communication gaps within their own departments and how they can improve;
- Learn ways to effect and measure these communication improvements.
Who should attend?
- Central Bankers of the level Deputy Directors and above
- Bankers who wish to understand how Central Banks communicate
- Anyone else who may find this program helpful