16 September 2025 – We have reranked Edward Scicluna, governor of the Central Bank of Malta, following our interview with him yesterday. Previously, he had been clearly dovish, and while we still consider him to tend dovish, we now see him as only slightly so.

12 September 2025 – We have reranked Central Bank of Cyprus Governor Christodoulos Patsalides. He remains a centrist, but is now on the hawkish side of the center, whereas previously we saw him as a "dovish centrist." We are not sure how well he warranted his previous classification, but the rarity of his public interventions led us to be cautious. Given his latest comments, in which he didn't shy away from leaving the door open to a hike "if the need arises," we see no reason to hesitate any longer.

3 September 2025 – We have added Martin Kocher to our hawk-dove ranking, as he has now begun his term as Governor of the Austrian National Bank, succeeding Robert Holzmann. Early indications suggest that while Kocher is unlikely to position himself as a dove, he also does not seem inclined to match the strongly hawkish stance of his predecessor. For now, we have placed him at a level of “moderate hawkishness” and will refine this assessment once his policy views become clearer.