Economists at the Bank of England are taking note of the power of Reggae music!
The Bank of England is carefully studying Jamaica’s use of Reggae/Dancehall music to promulgate its Inflation Targeting Campaign.
The Bank of England say they could employ a similar tactic to Jamaica using videos of Reggae stars singing about inflation targets in order to effectively communicate with the masses.
“In order to speak the language of the public, they have released a series of videos including top Reggae stars such as Tarrus Riley and inflation control to the baseline in Reggae music,” the economist noted.
“The Bank of Jamaica’s move from a focus on control of the exchange rate to “full-fledged inflation targeting has been widely discussed for the innovative ways in which the BoJ has communicated the move with the public,” they added.
Popular information outlet Bloomberg TV has also weighed in on the move. In an article titled “BoE looks to Jamaica Central Bank Reggae for Communication Ideas,” Bloomberg noted that the language used by the Bank of England’s economists in their reports were just too complex for even above-average persons to comprehend.
The Bank Of Jamaica produced a series of short videos that featured singers and dancers telling viewers that if inflation is “too high the people have a cry and if it’s too low the country nah grow.”
The method was seen as a simplistic but effective way of informing the public about inflation and the government’s policies.
It remains to be seen if such a model can be successfully implemented into the British market, and may require some tweaking.
