The Riksbank revises its communication policy
Date
04/12/2013
The Riksbank has revised its current communication policy, which was adopted in 2008. The guiding principles for communication are still openness and clarity, but now with a greater focus on dialogue in order to better explain and clarify the Riksbank's tasks and operations.
Openness has long been one of the guiding principles of the Riksbank's communication and we are now regarded as one of the most transparent central banks in the world. The communication policy affirms that open and clear communication contributes to a high degree of confidence, while also making it possible to examine and assess the work of the Riksbank.
One element of the revision of the policy is that it now consists of a single document in order to show that our approach is the same irrespective of the operational area concerned. The single document thus replaces the previous policy and its appendices for monetary policy and financial stability.
"With a new, uniform communication policy we affirm that openness and clarity will continue to be the guiding principles for our communication work in the period ahead. At the same time, we wish to increase our focus on dialogue in order to better explain the tasks and operations of the Riksbank," says Ann-Leena Mikiver, Director of Communications at the Riksbank.
The members of the Executive Board are appointed with individual mandates but make decisions collectively, which demands a high degree of clarity when communicating the reasoning behind the Riksbank's decisions. A new section of the policy therefore clarifies the existing formal guidelines that apply to the Executive Board members given the special requirements they are subject to. Under the revised policy, as previously, individual members may comment on new information as long as they do not anticipate their own future decisions or those of the other members of the Board.
The changes that have taken place internationally over the last five years have increased the demands for clarity, quick action, responsiveness and dialogue. The role of the central banks has been in transition since the financial crisis of 2008 and a lively international and national debate is still underway about how a modern central bank can be most effective. The Riksbank is now adapting our communication to these new conditions.
The objective of the Riksbank's communication is, by being open and clear, to contribute to a high level of confidence in the Riksbank's operations and to better knowledge of the financial system. The Riksbank's independence also makes it important for the public and the principal, the Riksdag, to be able to easily understand and evaluate the Riksbank's operations. Another objective is that all of the Riksbank's employees should be provided with relevant information so that they can carry out their work, feel involved and motivated and experience job satisfaction.
Further information on The Riksbank's communication policy .
