'The Old Lady of Threadneedle Street' at forefront of embracing new media

In yet another sign of central banks tailoring their ways of communicating to the new media, the 'The Old Lady of Threadneedle Street' invited members of the public to pose questions to one of the Bank of England’s policymakers on Twitter.

One particular question stood out, in my view, demonstrating the public’s increasing appetite for visual communications by central banks, which is an area where these traditionally text- and spreadsheet-based institutions have lagged behind:

Despite being quite well ahead of many other central banks, the Bank of England is still trailing its U.S. counterpart. At the Federal Reserve, some policymakers, notably Minneapolis Fed President Neel Kashkari, have extensively used social media accounts and blog posts to reach out directly to their audiences.