This paper investigates the impact of ECB communication of its assessment of the economic outlook on ex-ante inflation … uncertainty and sheds light on how central bank information shocks operate. The paper finds that ECB communication of new outlook … bank information acts as a "coordination device" able to influence opinions and actions. Most importantly, it generates a …

examine whether this form of ECB communication adds information to a shadow interest rate that summarises the overall policy … stance as interpreted by financial markets. To measure communication, we use information based on ECB press releases … distinguishing between topics like inflation, the real economy and monetary developments. We also look at the effect of communication …

This paper investigates the financial market effects of the ECB's communication on the Pandemic Emergency Purchase … Programme (PEPP). Using data for 10 euro area countries, we first analyse the impact of different communication channels such as … whether spreads react differently to communication by specific ECB Executive Board members. Markets turn out to be sensitive …

The aim of central bank communication is to provide information on monetary policy and the economic outlook in a timely … manner to the public. While research on central bank communication and specifically the European Central Bank’s press … conference has shown that it has the potential to move markets, in-depth textual analysis of key communication tools creates room …