While there is ample evidence how central bank communication and interest rate decisions are perceived by financial … policy presented in the media are affected by central bank communication and interest rate decisions …

This paper analyzes European financial markets' comprehension and interpretation of ECB communication signals. By …, we find that communication affects the term structure of interest rates in the medium run over a horizon between five …

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 …