The Note provides a textual analysis of 100 Monetary Policy Statements between 1997 and 2021. This analysis shows that keywords mentioned in the Monetary Policy Statements (MPS) align with the objectives in the Remit . The tone of the MPS has been neutral and objective, even as the sentiment in the MPS moves in line with household and business confidence surveys. "Clear communication helps New Zealanders understand monetary policy and its relationship to them. We use different communication channels to explain to the public the purpose and rationale behind monetary policy decisions.

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