The European Central Bank (ECB) and the Bank of England (BoE) are shadowed by professionals and academic economists who provide a separate policy rate recommendation in advance of the central bank's announcement. We explore differences between shadow and actual committee decisions based on an...

Using a novel approach, this paper analyses the deliberately communicated uncertainty of the ECB to the market. Specifically, it semantically analyses the uncertainty expressed in official ECB press statements. The analysis shows how the ECB tries to alert or appease the market with different...

Sooner or later, the ECB must accept that monetary financing in support of deficit spending is a necessity not just for mitigating the coronavirus crisis, but also for averting a downward deflationary cycle that could pull the eurozone apart.