In this paper, we analyze whether central bank communication can be an additional tool to provide guidance on monetary … prices down (up). Overall, our analysis suggests that communication may be a complementary and effective monetary policy tool …

Central bank communication has become a crucial tool for steering the monetary policy stance and shaping the outlook of … market participants. Traditionally, analyzing central bank communication required substantial human effort, expertise, and … analyze and measure different semantic dimensions of monetary policy communication. MILA performs granular classifications of …

Central bank communication plays an important role in shaping market participants' expectations. This paper studies a … economic dynamics, resulting in welfare-reducing fluctuations. On the contrary, central bank communication of policy rules …

The causal effects of central bank communication on economic expectations and their underlying mechanisms are tested in … controlled laboratory experiments. We find that central bank communication has a stabilizing effect on individual and aggregate … outcomes, and the size of the effect varies with the type of communication. Announcing past interest rate changes has the …

. Our findings bear important implications for the ECB forecasting process and ultimately for its communication strategy. …