-
Words of the RBNZ: Textual analysis of Monetary Policy Statements
Textual analysis shows that keywords mentioned in the Monetary Policy Statements (MPS) align with the objectives in the Remit. • The tone of MPS has been neutral and objective, even as the sentiment in the MPS moves in tandem with household and business confidence surveys. • Similar to monetary policy documents published by central banks overseas, the MPS are complex and may not be accessible to the general public. However, readability, which measures the complexity of a text based on sentence length and the number of syllables in words, has remained stable over 1997 Q1 to 2021 Q4 and has marginally improved ... (full story)