Quoting IsotonicDislikedwhat bugs me is why can't all these officials state their intentions in plain English without the clever word play? whats wrong with saying what you mean once in a while?Ignored
For me, the trick is to find out what language they are using to define where they stand with respect to policy: eg Fed - measured pace, accomodative. ECB - vigilance, data-dependent, augment. When the chief central bankers change their tone on these things, the rest of the Fed or ECB is quick to chime in, reflecting a clear change in policy.
Here's the thing. They don't like to surprise the market these days, so they often drop subtle clues hinting as to the future direction of policy (as we saw in the November FOMC minutes, and which I ignored to my detriment!). I suppose that is why the mkt hangs off their every word.
"Always bet on black"