The importance of communication in macroeconomic policy management
Friday, June 08, 2018
For a number of reasons, a central bank needs to continually interact and disseminate information to stakeholders. Such interactions and communication clarify the Bank’s role and, therefore, reinforces the effectiveness with which it discharges its mandate of ensuring price stability, sound financial and well-functioning payments systems and, more broadly, financial stability.
Therefore, the subject of this Brief is ‘The Importance of Communication in Macroeconomic Policy Management.’ For this purpose, it is important to distil macroeconomic policy into three distinct elements, namely fiscal policy, monetary policy and exchange rate policy; and for convenience add financial sector policies in order to complete the interactive and inherent relationships involved. Individually and together, these policies are intended to affect the behaviour of economic agents, which is, their response in terms of the supply and demand factors of economic activity.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...