Reserve Bank of NZ will soon need to appoint cartoonists…

I blogged about how RBNZ has started to use cartoons to explain its monetary policy in its May 2018 policy. This was a change adopted by the new Governor Adrain Orr who wants to make the communications simpler and catchier. Interestingly, Central Bank of Ireland also looking to use cartoons for its policy.

One was curious whether and how RBNZ will continue to design more cartoons for its subsequent policy. In the August-2018 statement, they use 4 new cartoons to explain policy:

Low interest rates will support the economy

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Employment remains healthy so wages are likely to rise, and government spending will boost the economy

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Global economic growth is supporting the New Zealand economy

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Uncertainty remains – as always

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There is more explanation to this in the statement.

With more policies lined up in future, it will surely need more cartoonists. Or has the central bank already employed a few?

Given how monetary policy fever has caught up in most economies with fervent discussion on the decisions, having cartoons runs both ways. It does demystify the policy to an extent but at the same time makes it look way too simple. RBNZ will have to balance these two things…

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