EU institutions

Aug 9, 2023 | ecb.europa.eu | European Union-Turkey Relations |Daniel Head |EU institutions |Jean-François Bouscasse

Words matter as much as actions for central banks. Because changes in tone can presage shifts in monetary policy. We have created an index to measure and compare the tone of policy communication by the ECB and the US Fed. This ECB Blog post talks you through the findings. What central banks say can influence prices on financial markets and, ultimately, how the economy evolves.