Economist · Ph.D. · Rome

Reading what central banks say.

I am a Senior Economist in the Macroeconomic and Financial Scenario Department at Enel Group and a Scholar Associate at the Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, Australian National University. My work applies text mining and machine learning to the language of monetary policy — minutes, statements, speeches — to measure things the data alone does not show.

Before joining Enel I was a Research Associate in the Macroeconomic Modelling and Forecasting team at the National Institute of Economic and Social Research in London, and a PhD trainee at the Economic Research Centre of the Deutsche Bundesbank. I hold a PhD in Economics from Loughborough University, with a thesis on central bank communication.

My current research sits at the intersection of monetary policy, inflation expectations and geopolitical risk: how policy narratives shape the term structure of expectations, how central bank language moves bond prices, and how monetary and oil shocks transmit through energy systems.

Selected research

• Deciphering Delphic Guidance: The Bank of England and Geopolitical Uncertainty

  with J. Chadha, C. Macchiarelli, S. Goel and A. Hantzsche

  Journal of International Money and Finance, 162, 2026Published

• Narratives Shape the Term Structure of Inflation Expectations

  with J. Benchimol

  CAMA Working Paper, 2026

• The Role of Central Bank Knowledge and Trust for the Public’s Inflation Expectations

  with T. Schmidt

  Deutsche Bundesbank Discussion Paper No. 32/2018

  SSRN

• FED’s Inflation Narrative and Inflation Markets Decomposition

  with J. Benchimol

  Work in progress, 2026

All papers, policy writing and talks →

Background

• Since 2026Scholar Associate, Crawford School of Public Policy, Australian National University
• Since 2020Senior Economist, Macroeconomic and Financial Scenario Department, Enel Group, Italy
• 2019–2020Visiting Lecturer in Economics and Finance, John Cabot University, Italy
• 2018Research Associate, Macro Directorate, National Institute of Economic and Social Research, UK
• 2017PhD Traineeship, Economic Research Centre, Deutsche Bundesbank, Germany
• 2016–2021Ph.D. in Economics, Loughborough University, UK — Essays on Central Bank Communication: A Text Mining Approach
• 2013–2014M.Sc. International Economics, Banking and Finance, Cardiff University, UK — Distinction

© 2026 Sathya Mellina. Views expressed here are my own and do not represent those of Enel Group or any other institution.