Central Bank Communication and its Role in Strengthening Consensus for Economic Reforms
In the recent decades central banks have significantly changed their approach to the public. It has been shown that through more effective sharing of information, higher transparency and improved communication of their policy decisions and forecasts, they have a greater role in economic and structural reforms and policy making. Coupled with greater credibility, they can serve more efficiently as a body for informing the public and advising other institutional bodies in their decision making.
ABOUT THIS LEARNING EVENT
The CEF has identified great interest for the topic by central banks in the region and conducting this event within the thematic area of leadership skills. The event was part of a broader set of initiatives on transparency, reporting, and communication. It also tackled reporting on the evolving economic outlook and conduct of policy yields benefits in terms of policy effectiveness and how central bank reporting enables checks and balances to operate more effectively, fostering consensus on policy priorities and strengthening accountability.
What participants took away
- Overview of strategic communication across a selection of central banks from the region and the ECB’s practice and experience in this important area.
- Issues relating to conducting outreach on the role of the central bank, the objectives of monetary and financial policy, and the promotion of economic awareness or financial literacy
- Experience in dealing with press queries, general relations with the media and regular reporting to parliamentary committees on economic and financial affairs
- Tailoring messages to different target audiences to ensure that they reach the desired objective, that of building consensus around reforms and policies
- Institutional and organizational issues underlying the design and implementation of a communication and transparency policy.
Target audience
The event was designed for central bank and ministry of finance staff directly involved in the design and implantation of communication and media relations, whether from public relations, communications or governor spokespersons teams and open to other staff with a keen interest and experience in this area.
Faculty
Frank Sweeney
Frank has been designing and delivering training solutions in both interpersonal communications and executive and management development for almost twelve years. As an independent training consultant since 2008, he has designed and delivered a number of core programs on Personal Effectiveness, Influencing & Persuasion Skills, Performance Management, Negotiation Skills and Communications. In addition he has provided consultancy, facilitation and training solutions to a number of government departments and bodies, as well as major organizations in the private and voluntary sectors. Prior to commencing practice as a training consultant, Frank spent twenty eight years working in senior management roles with major national and multinational organizations.
A Graduate of the Marketing Institute of Ireland (1979) with a Post Graduate Diploma in Strategic Market Planning (1987), he also attended the Kellogg School of Management and has a an MBA from The Open University. He also holds a Certificate in Training and Continuing Education from NUI Maynooth and is accredited to work with the Booth Company 360° Assessment Tools.
Boris Kisselevsky
Boris Kisselevsky graduated in business administration, political sciences and law in Paris. After 2 years at Banque de France, he joined the ECB in 1998 as economist before being seconded to the IMF in Washington from 2001 until 2003 and to the Bank of Russia in Moscow as advisor on banking supervision from 2003 until 2005. Back to the ECB, he became advisor to the ECB’s DG International before being appointed Deputy Head of Press and Information in 2009. In 2012, Boris Kisselevsky was seconded to the French Embassy in Moscow where he worked as financial counsellor until 2015. Since then, he has been the ECB’s Deputy Head of Outreach Communications, in charge in particular of several outreach projects with the general public and of the ECB’s internal communications.
Gill Hammond
Gill has been Director of the Centre for Central Banking Studies since 2008. Prior to that she held a number of senior management positions in the Bank of England, mainly in the international economic and monetary policy areas. Her main interest at the CCBS is monetary policy, including communication issues. She has several publications and has given lectures at more than sixty-five central banks around the world. Gill is also involved in the new Central Banking Qualification that the Bank of England is developing with Warwick University. Gill has a masters degree in economics from Cambridge University.
Partners
This learning initiative was supported by: