ECB board member highlights role of AI in central bank communication

Philip R. Lane, a member of the European Central Bank's Executive Board, told a London conference that advances in data, computing power and artificial intelligence are reshaping how central banks convey policy. He explained that modern machine‑learning tools and large language models enable automated analysis of extensive text, capturing context beyond simple word counts. Lane said these innovations affect market pricing, financing conditions and the expectations of households and firms regarding monetary policy.