TAIPEI (TVBS News) — The Central Bank of the Republic of China (Taiwan) officially launched its Instagram account on May 2, joining a growing global trend among central banks to enhance communication with younger demographics.
This move follows in the footsteps of other major central banks, including the U.S. Federal Reserve Board (FRB), the European Central Bank (ECB), and the Bank of England (BoE), which have all established official Instagram accounts.
At least 85 central banks worldwide now have Instagram accounts, an increase from the 71 recorded in December 2021. Compared to other social media platforms, such as Facebook, Instagram has seen the fastest growth in usage among central banks.
The Central Bank of Taiwan said its Instagram posts will focus on softer topics, such as sharing short videos on monetary finance knowledge and posting recruitment and internship information. Other central banks, like South Korea's, have introduced various employee clubs and economic stories from movies or dramas.
Over the past 20 years, the importance of communication strategy has been increasingly recognized by central banks internationally, and Taiwan's central bank is no exception. The central bank said the launch of the Instagram account is part of an effort to strengthen communication with the public and gain a better understanding of people's thoughts.
