Imagine you were a central bank with a legal duty to promote financial stability. In addition to that onerous task, things haven’t gone very well for you in the financial stability department in recent years. You consider some changes to formal structures and to communication. At the time of publication of a periodic financial stability document, do you:
A) Make a big show about transparency and publish the report at a specific moment, simultaneously holding a flagship press conference with the head of the central bank?
B) Make a big show about transparency, publish the report at a specific moment, allow journalists a controlled preview of the document to aide understanding, then hold a flagship press conference with the head of the central bank and those in change of financial stability?
C) Make much less of a show about transparency, allow a rather uncontrolled preview of the document under embargo, hold a background unattributable press briefing of the report with those in charge of financial stability and set a time under which the embargo is lifted and the document is published?
D) Do a combination of the above options?
E) Do something else? Read more