Central banks tend to see their communications as most effective in the area of monetary policy, according to data from the Communications Benchmarks 2023.

Respondents were asked to rate the effectiveness of their communications, for seven categories, on a zero to 10 scale.

On average, central banks gave the highest score to monetary policy (8.11), which was followed by banknotes or currency management (7.97) and financial stability (7.95).

Central bank communication was the least effective