Rethinking communication in monetary policy: Towards a strategic orientation for the CBC ; Repenser la communication dans la politique monétaire : Vers une orientation stratégique pour la BCC
The ability of a central bank to influence the economy depends on its ability to manage the expectations of the general public and the financial system about the future evolution of macroeconomic indicators. The communication strategy (in times of crisis and uncertainty) increases transparency, improves public understanding and support for the monetary policy and democratic accountability of the Central Bank of Congo (CBC), which serves the convergence towards balanced expectations. This paper agrees that a strategic communication orientation, focused on coherent messages, can help break pessimistic expectations, maintain confidence, reduce the cost of the crisis and stabilise the economy. In conclusion, the article suggests a dozen or so recommendations, in order to strengthen and reorient the CBC's communication strategy and contribute to the effectiveness of monetary policy. ; The ability of a central bank to influence the economy depends on its ability to manage the expectations of the general public and the financial system regarding the future development of macroeconomic indicators. The communication strategy (in this time of crisis and uncertainty) increases transparency, improves public understanding and support for the monetary policy and democratic accountability of the Central Bank of Congo (BCC), which serves to convergence towards the balance of expectations. This paper approves that a strategic communication orientation, focused on coherent messages, can help break down pessimistic expectations, maintain confidence, reduce the cost of the crisis and stabilize the economy. In conclusion, the article suggests a dozen recommendations, to be able to strengthen and redirect the BCC's communication strategy and contribute to the effectiveness of monetary policy. ; The ability of a central bank to influence the economy depends on its ability to manage the expectations of the general public and the financial system about the future evolution of macroeconomic indicators. The communication strategy (in ...