15 Feb 2020

Reaching a Wider Audience

Is the ECB Trending?

Daniel Gros / Angela Capolongo

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Central banks are increasingly recognising the importance of communicating with the wider public. We document that interest in monetary policy is intermittent, usually linked to major decisions and/or personnel changes. The ECB should not expect that every one of its decisions is noticed by the general public. The Monetary Dialogue fulfils the typical function of a representative democracy in which citizens delegate to their elected representatives the task of monitoring policy implementation by independent institutions.

This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs.