The world’s central banks are mixing it with wellness influencers, makeup experts and amateur chefs on Instagram as they increasingly turn to the social media platform to get their messages across. Bank Indonesia is the most-followed central bank on Instagram, with just under 700,000 followers as of April 28. It’s followed by the authorities in Venezuela and Brazil.
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Instagram is new frontier for central banks. Is TikTok next?
“Young people are quite impatient, so central banks have to send a message using very short sentences,” said Sayuri Shirai, economics professor at Keio University and a former board member of the Bank of Japan. “But they have to do so very carefully, because it may lead to a complete misunderstanding.”
