2022), central banks have made greater efforts to engage with the general public, but the results are not entirely encouraging. In Japan, the Bank of Japan has been pursuing the 2 percent price stability target for ten years, but public understanding of this issue remains low (Chart 4).
There is no consensus yet on the best practice for central bank communications with the general public. But it is clear that a one-size-fits-all approach in communication strategy is not appropriate. We should keep in mind that the general public are not experts in central banking or monetary policy. We need to avoid highly technical jargon and devise clear and concise explanations.