What is open to the Bank of Russia, while remaining closed for analysts?
29 august 2022 | Alina Evstigneeva, Yuliya Shchadilova, Mark Sidorovsky
A central bank may have an information advantage enabling it to better forecast macroeconomic indicators and, hence, make decisions that are not expected by the market. This advantage may exist both in reality and solely in the form of the market’s belief in it.
‘Don’t Get Me Wrong’: the Central Bank’s Language
4 october 2021 | Alina Evstigneeva, Mark Sidorovsky
Central banks strive to speak clearly and simply – this is critical to effectively targeting inflation. We assessed the comprehensibility of the Bank of Russia's communications using neural networks – it showed that the level of its texts is rather complicated for the public.