The third seminar of Bank of Italy's annual technical cooperation programme was devoted to the strategic role of internal and external communication in a central bank.
The evolution of central banking over the years and the additional challenges posed by the current economic crisis have significantly increased the importance of communication for central banks, required to effectively communicate objectives, strategy, and decisions to a wide and diverse target audience. In this complex scenario, traditional means and ways of communication risk to be no longer adequate. On the other hand, progress in IT offers new opportunities: blogs and social networks, in particular, can contribute to make communication increasingly efficient and globalised.
The seminar illustrated goals and principles of central bank communication with a specific focus on Eurosystem and Banca d'Italia recent experience, and with the analysis of some case studies.