Trust is central bankers’ most valuable resource. In today’s turbulent environment, safeguarding and building trust has become one of the most pressing issues facing central banks leading through crisis. Their communication strategies have become a policy tool in their own right, including use of innovative instruments. As a result, central banks are increasingly using social media and other means to reach the public directly.
OMFIF and the Asia School of Business have outlined best practice in managing central bank communications in times of crisis.