How Central Banks Decide—Committee Decision-Making and Communication in an Era of Uncertainty
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Location: G-01
Overview
Monetary policy decisions are made in an increasingly complex and uncertain environment, underlining the importance of how central bank committees deliberate, reach decisions, and communicate with the public. Committee structures vary widely across institutions. Some rely on large policymaking bodies representing regional interests, while others operate through smaller committees. Some emphasize consensus, while others are designed to surface a divergence of views. Central banks also differ in the role accorded to staff, the influence of the chair, and the degree of transparency around deliberations, forecasts, and votes. Moderated by the First Deputy Managing Director, Dan Katz, this seminar will bring together leading central bankers to compare different approaches to committee governance and communication. The discussion will explore how institutional design shapes decision-making, how committees balance diversity of views with coherent policy signals, and what lessons can be drawn for effective monetary policy communication in an increasingly uncertain world.
