Explore Central Bank Communication
Discover how central bank communication has evolved over time through our comprehensive analysis of speeches, policy statements, and research papers.
Central banks are increasingly responding in their communication to various political and market pressures
Based on a large sample of central bank speeches, we uncover the responses in communication of central bankers to various pressures. Below these responses are summarised as monetary, fiscal, and financial dominance, which can be tracked over time.
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Topics addressed by central banks have evolved significantly over time
Our analysis of topic distribution shows a clear evolution in what central bankers talk about. While central banks were once focused narrowly on monetary policy, recent years have seen a shift towards addressing fiscal and financial stability issues as well as new topics like climate change and digital currencies.
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Global Coverage of Central Bank Communication
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Data Source
We construct indices of pressures by applying a large language model to classify individual sentences in the central bank speeches database of the Bank of International Settlements, covering communications from more than 100 central banks worldwide.