What central banks changed in their latest statements

This page tracks the exact wording changes in the most recent policy statements from the major central banks — the Federal Reserve, the European Central Bank, the Bank of Canada, and the Reserve Bank of Australia. Each entry compares a statement against the one before it and shows precisely what was added, removed, or rewritten.

How the comparison works

Every change is computed directly from the two official statements, word by word, and shown as a redline: removed text struck through, new text highlighted. Nothing is paraphrased. Because policy language is deliberate, a single swapped phrase — dropping "patient" or adding "restrictive" — often carries the signal, and seeing it in context is faster than re-reading the full release. The Federal Reserve and its peers publish each statement in full, which is what makes this wording comparable from one release to the next.

Reading the direction of a change

Alongside each diff, the analysis labels whether the net change reads hawkish or dovish and points to the specific edits behind that call. To follow how a bank's tone is shifting across several meetings rather than a single release, see communication shifts. To read the full history for one bank, open its archive from the links above.