Broadly speaking, any communication from a central bank is addressed to several constituencies namely, the regulated entities; participants in financial markets; financial analysts; economists-cum-researchers or opinion makers in the academia; the multilateral bodies including the International Monetary Fund; the World Bank and of course credit rating agencies; the immediate stakeholder being the Government or Parliament; and the ultimate stakeholder being the public at large.
Each of these constituencies has its own concerns, time-frame, perception and technical expertise. While there is some scope for designing specific communications to be of use to a particular constituency on its unique requirements, a large part of communications has to be addressed to all constituencies.