Effective communication strategies for central banks Q4/23
Effective communication strategies for central banks: media engagement and digital presence
Effective communication strategies for central banks: media engagement and digital presence
Date: December 5–7, 2023
Time: 9am-12pm (EDT) | 2pm-5pm (GMT) | 3pm - 6pm (CET) I 10pm-1am (SGT)
Location: Virtual
Chair and speakers
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
Claire Jones
Acting US economics editor
The Financial Times
Volodymyr Lepushynskyi
Director, monetary policy and economic analysis department
National Bank of Ukraine
In 2004, joined the National Bank of Ukraine (NBU) on the position of economist responsible for forecasting money market performance. From 2008 to 2019, worked as the Head of Unit, Deputy Head of Division, Head of the Division for Monetary Policy Strategy, Deputy Director of Monetary Policy and Economic Analysis Department. In December 2019, was appointed as a Director of Monetary Policy and Economic Analysis Department. Has contributed to implementing inflation targeting regime in Ukraine, elaborating strategic documents on monetary policy and developing a rules-based monetary policy framework.
Graduated from Kyiv National Economic University with MA degree (with honors) in Finance (2004). Holds a Ph.D. in Economics from Ukrainian Academy of Banking. Has published extensively on monetary, macroeconomic, and modeling issues.
Astrid Lipfert
Deputy Head of Press and Public Relations Division, DG Communications
Deutsche Bundesbank
Within the DG Communications at Deutsche Bundesbank Astrid Lipfert is the Deputy Head of Press and Public Relations Division. Her team is responsible for strategic issues of the department, direct communication with the general public, regional communication activities and Bundesbank’s art collection. Astrid has been working at Deutsche Bundesbank for 20 years. She has held several positions in different departments including leading the website team and senior adviser to the Director General Communications. Astrid holds a degree in Central Banking from the Deutsche Bundesbank University of Applied Sciences and a degree in Business informatics.
Noel Greenland
Executive Director Communications
Bank of Jamaica
Christian Beslmeisl
Deputy Head of Communications
Bank for International Settlements
Christian Beslmeisl is the Deputy Head of Communications at the Bank for International Settlements (BIS). His team is responsible for the BIS’s website, www.bis.org, its Social Media channels, intranet and for visual communications services. Christian joined the BIS as a Senior Business Analyst in 2002 and in this role was responsible for developing the BIS’s intranet. He has held increasingly responsible positions at the BIS, including Head of Publishing. Prior to joining the BIS, Christian worked for the Deutsche Bundesbank, with his last position being deputy team leader of the eCollaboration team. Christian holds a degree from the Deutsche Bundesbank University of Applied Sciences
Gabriel Glöckler
Principal adviser communications
European Central Bank
Gabriel Glöckler is a seasoned central banker, economist and communicator. Since 1999, he has served the European Central Bank in a variety of senior roles. As Principal Adviser, he is currently part of the senior leadership of the Bank’s communications department, where he spearheads innovation to communicate ECB policy to the wider public more effectively. He is also a Chief Editor of the ECB blog. Prior to this, Gabriel led the ECB’s General Secretariat and its European Union department. He also spent five years as chief of staff to the ECB’s Vice-President and worked as an economist. Gabriel studied Philosophy, Politics and Economics at Oxford University and holds a Master’s degree from the College of Europe in Bruges, where he has also been a Visiting Professor for the last decade. He is a regular public speaker, including in the media. His academic work on European integration and central bank communication has been published widely.
Agenda
14:00 – 14:15
Effective communication strategies for central banks: an introduction
Course introduction session led by the chair
14:00 - 14:15
- Introductions and welcome from the chairperson
- Overview of the training course
- Discussion of the delegate expectations
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
14:15 – 15:15
The media in 2023: new dynamics, challenges and opportunities
14:15 - 15:15
- Key factors, themes and dynamics shaping the media environment in 2023
- New roles and responsibilities of the communication officials in central banks
- Overview of unavoidable risks, critical challenges and emerging opportunities
- Discussion of the relationship between the execution of communication strategies and the performance of central banks’ functions and mandates
15:15 – 16:15
Monetary policy communications in a time of crisis – lessons learned from Ukraine
15:15 - 16:15
- The integrity of the central bank and consistency of monetary policy as the preconditions to openness
- Increasing central bank openness on monetary policy during a highly challenging operating environment
- Combining multiple communications tools including social media to inform and engage audiences during a crisis
- Ingredients of successful strategies and steps to be avoided in 'crisis communication' to the markets and the public – the case of the National Bank of Ukraine
Volodymyr Lepushynskyi
Director, monetary policy and economic analysis department
National Bank of Ukraine
In 2004, joined the National Bank of Ukraine (NBU) on the position of economist responsible for forecasting money market performance. From 2008 to 2019, worked as the Head of Unit, Deputy Head of Division, Head of the Division for Monetary Policy Strategy, Deputy Director of Monetary Policy and Economic Analysis Department. In December 2019, was appointed as a Director of Monetary Policy and Economic Analysis Department. Has contributed to implementing inflation targeting regime in Ukraine, elaborating strategic documents on monetary policy and developing a rules-based monetary policy framework.
Graduated from Kyiv National Economic University with MA degree (with honors) in Finance (2004). Holds a Ph.D. in Economics from Ukrainian Academy of Banking. Has published extensively on monetary, macroeconomic, and modeling issues.
16:15 – 17:00
Macro-prudential policy communications: the brave new world of central bank communications
16:15 - 17:00
- Communication challenges stemming from the growing importance of financial stability, or macro-prudential, policies
- Disparate goals of communications on price stability and financial stability
- Similarities between monetary policy and macro-prudential communication toolkits
- Tips for overcoming challenges for clear and open communication
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
14:00 – 15:00
Modernising central bank communication
14:00 - 15:00
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Embedded communications: having a seat at the table and pushing the boundaries
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Fairness and transparency: serving to enhance reputation
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Engaging multiple audiences: meet people where they are
Gabriel Glöckler is a seasoned central banker, economist and communicator. Since 1999, he has served the European Central Bank in a variety of senior roles. As Principal Adviser, he is currently part of the senior leadership of the Bank’s communications department, where he spearheads innovation to communicate ECB policy to the wider public more effectively. He is also a Chief Editor of the ECB blog. Prior to this, Gabriel led the ECB’s General Secretariat and its European Union department. He also spent five years as chief of staff to the ECB’s Vice-President and worked as an economist. Gabriel studied Philosophy, Politics and Economics at Oxford University and holds a Master’s degree from the College of Europe in Bruges, where he has also been a Visiting Professor for the last decade. He is a regular public speaker, including in the media. His academic work on European integration and central bank communication has been published widely.
15:00 – 16:00
Enhancing public communication in central banking: key components and associated challenges
15:00 - 16:00
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Why are we talking about communication with the public?
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How do we talk to the public: Roles and applications of plain language in central banks’ communication
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How do we define our target groups?
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What live communication formats are available at the Bundesbank?
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Now it’s your turn: design a new event with a focus on increased dialogue with your guests
Astrid Lipfert
Deputy Head of Press and Public Relations Division, DG Communications
Deutsche Bundesbank
Within the DG Communications at Deutsche Bundesbank Astrid Lipfert is the Deputy Head of Press and Public Relations Division. Her team is responsible for strategic issues of the department, direct communication with the general public, regional communication activities and Bundesbank’s art collection. Astrid has been working at Deutsche Bundesbank for 20 years. She has held several positions in different departments including leading the website team and senior adviser to the Director General Communications. Astrid holds a degree in Central Banking from the Deutsche Bundesbank University of Applied Sciences and a degree in Business informatics.
16:00 – 17:00
The Jamaicanisation of central banking: A 360° culturally perceptive communications approach
16:00 - 17:00
- The creation, implementation, and measurement of a culturally perceptive communications plan
- The use of cultural expressions as a tool for improving central bank communications
- New media: social media infiltration…to a Jamaican beat
- Constructing a culturally contextualised communications plan within your own country
14:00 – 15:30
Workshop: making the most of policy press releases and media presentations
14:00 - 15:30
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Introduction
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Group exercise and task 1 – distributed to attendees prior to the workshop
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Group presentations
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Group exercise and task 2 – distributed to attendees prior to the workshop
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Group presentations
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Group exercise and task 3 – distributed to attendees prior to the workshop
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Group presentations
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Conclusion and key takeaways
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
15:30 – 16:30
Pursuing excellence in central banking websites and digital platforms
15:30 - 16:30
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The unique value of websites and digital publications as communication tools
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Key features of an effective management of the website: setting goals; understanding audiences and their needs; usability tests (demo)
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Examples of effective delivery of announcements, speeches, data and research to the general public and banking professionals
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Case study: Measuring impact - the journey from web metrics to communications impact reporting
Christian Beslmeisl is the Deputy Head of Communications at the Bank for International Settlements (BIS). His team is responsible for the BIS’s website, www.bis.org, its Social Media channels, intranet and for visual communications services. Christian joined the BIS as a Senior Business Analyst in 2002 and in this role was responsible for developing the BIS’s intranet. He has held increasingly responsible positions at the BIS, including Head of Publishing. Prior to joining the BIS, Christian worked for the Deutsche Bundesbank, with his last position being deputy team leader of the eCollaboration team. Christian holds a degree from the Deutsche Bundesbank University of Applied Sciences
16:30 – 17:00
Effective communication strategies for central banks: closing remarks and delegate action plans
Concluding session led by the chair
16:30 - 17:00
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Summary of the course
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Discussion of the observed trends and case studies
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Application of learning points in the delegates’ home organisations
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Preparation of action points
Marek Petruš
Central bank communications consultant and former director of the general secretariat
Former Czech National Bank
Marek Petruš is an external relations consultant with deep expertise in financial and economic policy communications. He has worked closely with top monetary policymakers as a strategic advisor to governors in the Czech Republic as well as more than a dozen low-to-middle income developing countries. He has been affiliated with the International Monetary Fund as a short-term expert for central bank communications, advising central banks across Eastern Europe, Asia, and Africa to make their policies more transparent and on modernising their communications. His expertise and experience stems from an assignment as Director of Communications and later chancellor at the Czech National Bank (CNB), preceded by a career with the world’s leading news media companies, including Reuters and the Wall Street Journal. During his tenure, the Czech central bank upgraded its policy communications and brought its transparency and communication toolkit into line with global best practices. These advances helped solidify the CNB’s standing as one of the world's most transparent and best communicating central banks.
Two weeks prior to your training course you will be given access to course materials. There will be a combination of articles, reports and presentations that will contribute to two hours of preparation time for the live content. Presentations for the sessions will also be held here subject to the speaker approval.
Learning outcomes
At the end of the course participants will be able to:
- Develop strategies to protect credibility and reputation amidst economic turmoil, reinforcing public trust in central banks' actions and promoting independence
- Take advantage of the increasingly dominant role of digital tools and social media in shaping transparent and relatable communications
- Explore the integration of traditional and digital communication for effective engagement of multiple audiences
- Understand the pros and cons of increased central bank transparency and heightened communication on actions, forecasts, risks and uncertainties in a crisis
- Learn techniques to measure communication effectiveness across diverse audiences, enhancing central banks' strategic influence and inform a strategy going forward.