BoE governor-to-be Mark Carney made a speech titled ‘Guidance’ last night. It was all about communications strategies, for both companies and central banks — a very interesting topic for students of monetary Jedi tactics.
Carney stressed at the beginning that his talk would be about guidance, and not containing guidance. Tee hee! However, he did drop the N-bomb and when a central bank governor talks in positive terms about a non-mainstream monetary policy framework, it’s… interesting. Read more
Remember back in March, when oil prices were high and Ali Naimi, Saudi Arabia’s oil minister, penned a letter to the FT suggesting prices were too high because there was no lack of supply and inventories were full?
Well, prices have come down since then. A quick recap from SocGen: Read more
There’s something to reading Ben Bernanke’s speeches from a passive communication point of view. It’s not so much what he says, but what he doesn’t say. Or rather what he infers by saying something else.
For example take the following concept: Read more