- About
Established in 2015 in collaboration with MIT Sloan Management, our vision is to be a global knowledge hub, with regional insights from Asia and the emerging world.
- Faculty & Research
ASB’s research centers conduct impactful research in emerging markets, business strategies, technology, and sustainability. Together, they foster innovation in the business landscape.
- Academics
The ASB curriculum seamlessly integrates MIT Sloan’s rigor with the strategic insights of Asia. With MIT Sloan Immersion and Industry Treks, it immerses future leaders in a diverse range of industries.
- Executive Education
ASB provides executive education programs covering corporate governance, general management, and finance, including the mandatory Financial Institutions Directors’ Education (FIDE) programs.
- Corporate
ASB excels through dynamic collaborations, addressing business challenges with innovation, built on robust partnerships.
Executive Education - Leadership & Management
Communications in Central Banking (November 27 – 29, 2024)
Executive Education - Leadership & Management
Communications in Central Banking (November 27 – 29, 2024)
Nov 27 - 29, 2024
Date
9:00am – 3:00pm
Time
RM14,500
Program Fee
In-Person
Format
Nov 27 - 29, 2024
Date
9:00am – 3:00pm
Time
RM14,500.00
Program Fee
In-Person
Format
Since inception, central banks have operated under a shroud of secrecy, cautious of the potential negative repercussions their words could have on markets and the broader economy. In some instances, not even monetary policy actions were communicated. Within the void in communications, observers devised creative means to interpret the non-verbal cues from central banks, whether it be the Governor’s eyebrows or the thickness of the Governor’s briefcase.
Recognising the importance of communicating with the public for policy effectiveness, central banks experimented with influencing policy expectations with different forms of communications. The decades of experiments culminated into what many would consider the first ‘quiet’ revolution in central bank communications. The first revolution climaxed with Mario Draghi (former Prime Minister of Italy and President of the European Central Bank), saving the euro with just three words — “Whatever It Takes”, at the height of the eurozone crisis.
However, as Andy Haldane (former Chief Economist at the Bank of England) had pointed out, much of central banks’ communications are targeted towards a very exclusive and select group, specifically M.E.N. – Markets, Economists, and News. Amid the heightened uncertainties and the rise of social media and populism, failure to communicate effectively with the public poses an existential threat to central banks. 2020 was a year of unprecedented challenges and served as a catalyst for change.
Faced with intensified trust deficit, central banks globally embarked on a journey to communicate with the public. The second revolution in central bank communications started abruptly and we are still riding this wave! The volume of research on central bank communication available on Google Scholar doubled in 2020 — 2023 compared to 2016 — 2019. This change in posture is most apparent through the lens of renowned economist, Alan Blinder. Having predicted in 2018 that attempts at communications with the public will ultimately fail, he added that it is “worth the candle” just four years later in 2022.
Today, central banks view public communication as a pivotal tool for enhancing the effectiveness of their policies. In this context, a one-size-fits-all approach is inadequate, necessitating a range of communication strategies tailored to various audiences with vastly different levels of studies, interests, and attention span. This approach is also corroborated by research, as empirical evidence indicates that the public tends to trust text that is easily understandable and visually attractive.
- Explore the essentials of central bank communication, delving into the factors that makes a central bank’s communication effective.
- Engage in hands-on group activities and practical exercises applying central bank communication theoretical concepts, principles, and strategies in simulation designed to mimic real-world scenarios.
- Simulate a press conference where participants will collaborate with each other and assume the role of a central bank tasked with addressing a communication crisis with the guidance of the facilitators.
For central bankers from all specialisations within central banks, including communications, monetary policy, financial stability, financial intelligence, supervision, and more, who interact with central banks’ diverse stakeholders, including economists, financial market participants, politicians, media, and the general public.
Shasha Kartini Ridzam
Faculty Profile
Shasha Kartini Ridzam currently leads the Strategic Communications department in Bank Negara Malaysia. Before assuming this role, she was AirAsia’s Group Head in charge of Global Affairs, Government Relations, Sustainability and Communications.
Prior to AirAsia, Shasha spent 10 years as an economist in Bank Negara Malaysia with a focus on economic development, international economics and financial stability. She led a team of economists that provided assessments, forecasts and policy advice for monetary policy, financial policy as well as structural issues to the Malaysian Government. Her career in the central bank also included a stint as a core member of the team that formulated Malaysia’s 2010 – 2020 Financial Sector Blueprint.
Connect with us to start
Communications in Central Banking (November 27 – 29, 2024)
RM14,500
Complete the Form Below to Download the Course Guide