Our updated state-of-the-art Central Bank Sentiment indicators are flagging important changes in communication dynamics since the beginning of the year. We recently upgraded our sentiment measurement to a more fine-tuned and nuanced NLP model that effectively captures the meaning of Central Banker rhetoric and here share key findings.

We regularly track and update our measure of positivity/negativity of Bank language contained in statements, outlooks and speeches on a scale of -1 to +1 in our DataHub for premium subscribers. There you can access full histories and dig deeper into the underlying drivers. Our sentiment tracker is a moving average rolling over 10 instances of Bank communication. For each speech, statement, policy statement etc, we calculate sentiment via context, domain-specific language and terms used by policymakers. Data above 0 indicates more positive sentiment, whilst data below 0 indicates negative sentiment.