Philippine Central Bank Looks to Social Media to Gauge Sentiment

The Philippine central bank is considering analyzing Internet articles and social media posts as a gauge of sentiment to boost policy making, Governor Benjamin Diokno said.

The bank’s economic research team is studying the use of text analytics to monitor uncertainties in financial markets, he said in a live-streamed briefing Thursday. Policy uncertainty indexes are being developed by tracking down the frequency and combination of words over time, said senior director Zeno Abenoja.

Philippine Central Bank Looks to Social Media to Gauge Sentiment

The monetary authority has adopted mobility data from Google and Apple Inc. in sectoral and growth analysis, said Diokno, who’s back from medical leave.

Story Link: Philippines’ BSP Looking at Alternative Data for Policy Making

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