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Decoding central bank communications with large language models

delete2026-03-21
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OA
AI
K
Kairan Chen *
B
Brigitte Granville
R
Roman Matoušek
DOI:10.1016/j.intfin.2026.102325delete
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Abstract

Abstract

En 中文
• We develop a way to measure the “Procedural Linguistic Minutes Information Shocks”. • The shocks quantify the extra linguistic information in the Minutes beyond the Statements. • We identify the causal impact of the shocks on expectations about interest rate.
Keywords:
FOMC
Central bank communications
Announcement effects
High-frequency data
Text analysis
Information shocks
C53
C55
C58
E44
E52
E58
E71
G41
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Journal

J
journal of international financial markets, institutions and money
IF:
0
Papers:
65
Citations:
0

Organization

Q
queen mary university of london
Scholars:
1.8K
Papers: 1.1K
Citations: 0
H
Hang Seng University of Hong Kong
Scholars:
349
Papers: 503
Citations: 1