Press Releases and MPC Minutes Are They One And The Same?

Working Papers from South East Asian Central Banks (SEACEN) Research and Training Centre

Abstract: In this research, using Content Analysis, we examine 48 minutes of the Monetary Policy Committee (MPC) and press releases of the Bank of Thailand from 2011 to 2016 and from 2008 to 2016, respectively. The contents of both types of documents are quantified and examined as to whether they are consistent with one another with regard to their readability and sentiments. The general conclusion is that they are consistent and do speak the same language. In particular, it is noted that with a few exceptions, their readability and network of keywords in both the press releases and minutes are indeed alike. It is also noted that the information contents tend to cluster in a similar fashion.

Keywords: Monetary Policy; Content Analysis; Economic Sentiments (search for similar items in EconPapers)
JEL-codes: D83 E52 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2017-06
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