Central Bank Transparency as a Dialogical Accomplishment

Abstract

This paper is a case study of the Czech central bank's communication with the public following the bank's decision to devalue the Czech currency. The aim is to contribute to knowledge of how central banks discharge their obligations to be transparent in communicating controversial decisions and actions. It is argued that transparency cannot be considered an individual act of the bank, but a joint dialogical accomplishment, which includes, among others, media and the public. The analysis of the interactions shows that the concepts of "dialogical networks" and "practical historians" are useful tools for elucidating how controversies in media develop over time.Text 1: CNB press release 1 CNB keeps interest rates unchanged, decides on interventions 2 7 Nov 2013 3 The CNB Bank Board decided at its meeting today to keep interest rates 4 unchanged. The two-week repo rate was maintained at 0.05%, the discount 5 rate at 0.05% and the Lombard rate at 0.25%. 6 The Bank Board also decided to start using the exchange rate as an additional 7 instrument for easing the monetary conditions. The CNB will intervene on 8 the foreign exchange market to weaken the koruna so that the exchange rate 9 of the koruna against the euro is close to CZK 27. 10 The history of the settings of the main instruments of monetary policy 11 and the Bank Board minutes are available at 12 14 Repo rate: The CNB's key monetary policy rate, paid on commercial banks' 15 excess liquidity as withdrawn by the CNB in two-week repo tenders. 16 Discount rate: A monetary policy rate which as a rule represents the floor for 17 short-term money market interest rates. The CNB applies it to the excess 18 liquidity which banks deposit with the CNB overnight under the deposit facility. 19 Lombard rate: A monetary policy interest rate which provides a ceiling for 20 short-term interest rates on the money market. The CNB applies it to the 21 liquidity which it provides to banks overnight under the lending facility. 22 Marek Petruš, CNB Spokesman

Eroding Trust in Teacher Professionalism: An Ethnomethodological Analysis of Radio Interviews with Czech Experts on Education

“…In this respect we assume that events and media programmes such as debates, call-ins, and more critical interviews would be especially revealing. Furthermore, as social media and the Internet seem to play an important role in the exchanges of ideas and streaming of various types of recordings, we find the concept of dialogic media networks (e.g., Kaderka et al, 2018;Leudar & Nekvapil, 2004) promising when analysing some of the MCDs, as shown in the analysis of Extracts 1 and 2 (see footnote 10). This line of research suggests that an analysis of data from discussion platforms and social media may shed more light on the phenomena that were mostly presented unilaterally by the interviewers and their guests.…”

Politics of Crisis: Threatening and Defending Journalistic Expertise—A Processual Account

“…Journalists in particular play an essential role in the co‐production of such interactive media networks. It is the journalists who are actively involved in making certain contributions relevant by amplifying them, linking the statements of various actors with each other, or generating new contributions (e.g., by posing questions to politicians at press conferences) and feeding them into public discourse (see especially Kaderka et al 2018; Leudar and Nekvapil 2004; Nekvapil and Leudar 2006).…”