ECB Gets Into the Social Media Groove

  • Chief economist Praet faces Twitter users on QE, inflation
  • President Draghi to reply to Twitter, Facebook users in videos

The European Central Bank has made a second attempt to speak to a broader audience with a question-and-answer session on Twitter, joining other central banks using social media to deliver their messages directly.

Chief economist Peter Praet answered 23 questions from users on topics from Brexit to inflation on Thursday, out of hundreds of posts with the hashtag #AskECB. He also commented on how to pronounce his name and dodged a question on which color tie of President Mario Draghi he would prefer to be given.

Most of the questions he answered were from the business and financial communities, including journalists, economists and a member of the European Parliament. Praet replied to two posts from the University of Leicester’s School of Business, submitted by former Cyprus Central Bank President Panicos Demetriades and his students during a lecture.

The ECB’s first Twitter Q&A was with board member Benoit Coeure in December 2016, when 10 questions were answered. The Bank of England also held a live session with former deputy governor Minouche Shafik in February last year, in which she posted 21 responses.

The ECB is planning another social-media push on February 12, this time with President Mario Draghi. He will answer questions submitted via Twitter and Facebook in a series of videos, on pre-established topics that include cryptocurrencies.

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