Effective Communication of Monetary Policy

Effective communication of monetary policy is crucial for central banks to manage public expectations, enhance transparency, and improve the credibility of their monetary policy frameworks. Given the diverse economic environments of MEFMI member countries, it is essential to tailor communication strategies that address local contexts while aligning with global best practices. Policymakers need to be equipped with the knowledge and skills needed to effectively communicate monetary policy decisions and their underlying rationale.

It is against this background that MEFMI will conduct a seminar on monetary policy communication to improve the clarity, consistency, and impact of central bank communication across the region. By fostering a deeper understanding of effective communication techniques, the seminar will help central banks build trust with stakeholders, enhance policy effectiveness, and contribute to overall economic stability in member countries.

Objectives

The objective of the course is to enhance participants’ understanding of the principles and practices of effective monetary policy communication. It also aims to develop practical skills for designing and implementing communication strategies that foster transparency and public trust in central banking.

Content

The course will cover the following:

• i. Introduction to Monetary Policy Communication
• ii. Principles of Effective Communication
• iii. Tools and Techniques
• iv. Stakeholder Engagement
• v. Practical Workshops
• vi. Evaluation and Feedback
• vii. Future Trends and Best Practices

Target Group

This seminar targets central bank officials, communication officers, and policymakers from MEFMI member countries who are involved in the formulation and dissemination of monetary policy.