These are very common words in the financial press since Central Banks gained independence. But what do they mean? A «Hawk» is a central banker who is a little more concerned with implementing monetary policy to fight inflation rather than to stimulate the economy. A «Hawk» has a bias towards higher rates whenever there are signs of overheating in the economy. A «Dove» believes in the stimulating properties of monetary policy and thinks that it is a relevant tool in keeping the economy growing. A