Media news and market expectations: Insights into the ECB's new data-dependent policy regime

Catalin-Florinel Dragomirescu-Gaina; Andrea Monticini; Francesco Salsano

doi:10.1016/j.econlet.2024.111987

Media news and market expectations: Insights into the ECB's new data-dependent policy regime

Catalin-Florinel Dragomirescu-Gaina^*, Andrea Monticini, Francesco Salsano

^*Autore corrispondente per questo lavoro

Risultato della ricerca: Contributo in rivista › Articolo in rivista

Abstract

Financial markets are known to respond to ECB policy announcements, yet these reactions could often reflect adjustments to heightened market expectations influenced by prior media coverage. News may have gained importance following the ECB's adoption of a “data-dependent” policy regime amidst persistent inflation in the Euro Area. Our empirical findings confirm this and underscore the complex interactions between media news and expectations in shaping market dynamics and reactions both before and during official policy announcements.

Lingua originale	English
pagine (da-a)	N/A-N/A
Rivista	Economics Letters
DOI	https://doi.org/10.1016/j.econlet.2024.111987
Stato di pubblicazione	Pubblicato - 2024

Keywords

ECB communication
media news
market expectations

Accesso al documento

10.1016/j.econlet.2024.111987

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abstract = "Financial markets are known to respond to ECB policy announcements, yet these reactions could often reflect adjustments to heightened market expectations influenced by prior media coverage. News may have gained importance following the ECB's adoption of a “data-dependent” policy regime amidst persistent inflation in the Euro Area. Our empirical findings confirm this and underscore the complex interactions between media news and expectations in shaping market dynamics and reactions both before and during official policy announcements.",

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AU - Salsano, Francesco

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N2 - Financial markets are known to respond to ECB policy announcements, yet these reactions could often reflect adjustments to heightened market expectations influenced by prior media coverage. News may have gained importance following the ECB's adoption of a “data-dependent” policy regime amidst persistent inflation in the Euro Area. Our empirical findings confirm this and underscore the complex interactions between media news and expectations in shaping market dynamics and reactions both before and during official policy announcements.

AB - Financial markets are known to respond to ECB policy announcements, yet these reactions could often reflect adjustments to heightened market expectations influenced by prior media coverage. News may have gained importance following the ECB's adoption of a “data-dependent” policy regime amidst persistent inflation in the Euro Area. Our empirical findings confirm this and underscore the complex interactions between media news and expectations in shaping market dynamics and reactions both before and during official policy announcements.

KW - ECB communication

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KW - market expectations

KW - ECB communication

KW - media news

KW - market expectations

UR - http://hdl.handle.net/10807/291298

U2 - 10.1016/j.econlet.2024.111987

DO - 10.1016/j.econlet.2024.111987

M3 - Article

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JF - Economics Letters

ER -

Media news and market expectations: Insights into the ECB's new data-dependent policy regime

Abstract

Keywords

Accesso al documento

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