International Monetary Fund

Central Bank Communication Classifier

Large-scale analysis of what central banks say, how they say it, and how it changes.

The Classifier reads the published record of central bank communication — policy decisions, minutes, reports, and speeches — and turns it into comparable measures: the balance of hawkish and dovish language, how far ahead a statement looks, what it talks about, and how readable it is. Figures can be compared across central banks, over time, and against market and macroeconomic series.