Research shows that information extracted from business newspapers can be used to nowcast quarterly GDP growth and outperforms traditional forecasting methods at turning points.21 4/9  BIS central bankers' speeches  Similar methodologies can also be used to extract information on how central bank communication is perceived by the public.
Our monetary policy framework is one important way we put our independence into practice. But 2/7  BIS central bankers' speeches  there are others. The Bank has a Board of Directors made up of the Governor, Senior Deputy Governor and 12 independent directors.