Engagement and cooperation
6.5 The Bank of Finland’s communications highlighted diversification and accessibility in 2021
The COVID-19 pandemic continued to have a major impact on the Bank of Finland’s communication needs and practices in 2021. The accessibility of monetary policy communication improved as both the European Central Bank and the Bank of Finland increased the provision of easy-to-read content.
The COVID-19 pandemic that broke out in 2020 was also strongly reflected in the Bank of Finland’s activities in 2021. The Bank has actively monitored and analysed the economic repercussions of the pandemic and has regularly provided information (in Finnish) in this area.
The Bank of Finland’s internal communications have also played an important role. With timely and transparent internal communication measures, we aimed to ensure the continuity of operations and the safety of the Bank’s staff.
Social media have further strengthened their role among the Bank of Finland’s communication channels.
The COVID-19 pandemic and the diversification and fragmentation of the media have increased the need for analytical and fact-based information, transparency and regular communication.
In the context of adopting its new monetary policy strategy in summer 2021, the ECB also analysed the effectiveness of its monetary policy communication. The analysis indicated that communication should be clearer and tailored to different audiences.
The ECB has already improved the accessibility of its communications by, for example, providing easy-to-read summaries in all the euro area languages in connection with its decisions.
Something for everyone – layered communication made Bank of Finland content more accessible
In 2021, the Bank of Finland’s communication goals were to produce clear and diversified content in our various communication channels. By using ‘layered’ communication, we published information in different formats, tailored according to the specificities of our key target groups.
We provided content ranging from in-depth analysis articles to accessible visualisations and short videos.
In 2021, the Bank of Finland set targets and indicators based on its strategy for the amount of readily understandable content. These targets and indicators are regularly monitored.
Other communication indicators were also upgraded to support the effectiveness of the Bank of Finland’s communications.
The Bank of Finland held online events on various economic topics in 2021
In 2021, we organised four press conferences in connection with the publication of the online journal Euro & talous.
The topics discussed at these events included the effects of the COVID-19 pandemic on economic growth in Finland and abroad, the importance of monetary policy accommodation and the risks associated with household debt accumulation.
We also held press events on the ECB’s renewed monetary policy strategy and on the digital euro project launched by the Eurosystem.
In the autumn, the Bank of Finland announced that it had set climate targets for its investment portfolio.
These topics were also prominently featured on all of the Bank’s various websites and in the speeches and interviews given by the Bank of Finland’s Board and experts.
In early autumn, the Bank organised a public event at the Turku Europe Forum 2021 to discuss the outlook for Europe after Brexit, COVID-19 and many other crises.
The Bank of Finland’s social media strategy reform progressed in 2021
The Bank of Finland’s main websites – suomenpankki.fi and eurojatalous.fi – attracted almost two million visitors in 2021. To develop the websites, we conducted a user survey and interviewed our key stakeholders.
Our social media channels gained over three thousand new followers in 2021.
The Bank of Finland posted over 1,900 times on social media, reaching almost 2.5 million users. Almost 70% of the posts were tweets on Twitter.
The implementation of the Bank of Finland’s social media strategy reform, which was initiated last year, progressed as planned in 2021.
The Bank regularly measures and analyses the achievement of the objectives and reports quarterly on the findings to the staff. In 2021, successs was achieved in implementing channel-specific goals in a more active and targeted manner.
Bank of Finland staff members communicated actively in 2021
In 2021, our staff members published about 60 blog posts, and by the end of the year almost a quarter of the Bank’s experts were tweeting about their work on Twitter.
Information about the Bank of Finland’s activities reached a wider audience and was more accessible than before: not only did we use our official communications channels but members of the Bank’s staff also posted actively on their own user accounts.
Active communication by our experts also reflects the openness and transparency of information produced at the Bank of Finland and, consequently, confidence in the Bank as an employer.
The Bank of Finland supported our experts’ online and social media engagement by investing in various training courses and regular staff meetings.
In 2021, we gained recognition for successful communication on our employer image. With regard to social media, one of the most significant accomplishments was that the Bank of Finland was ranked among the top three in the Nordic region in the LinkedIn Talent Awards 2021, in the category of Best Employer Brand.
Launch of the Financial Literacy Centre at the Bank of Finland Museum
The COVID-19 pandemic kept the Bank of Finland Museum by and large closed in 2021. However, the Museum held 15 hybrid events, in which the audience could participate online.
The Bank of Finland Museum was open for one and a half months in 2021. During that time, over 900 visitors found their way to the Museum.
In the field of financial literacy and economic know-how, the most significant effort in 2021 was the launch of a Financial Literacy Centre at the Bank of Finland Museum.