segunda-feira, 14 de abril de 2014

Benoit C., s´il te plait, mon cher ...

I am quoting from his last speech:

Yet, as an instrument it also has natural limitations. A monetary policy committee cannot credibly commit to keep interest rates low beyond its horizon of visibility. This is reflected in the specific wording of our forward guidance, in particular the fact that it is outcome-contingent.

F.Guidance outcome-contigent???? Mon dieu, Benoit, je suis deçu...

Foward guidance is precisely about convincing markets that you are temporarily suspending the association between the state of the economy and and your reaction function. It is all about NOT BEING OUTCOME CONTINGENT.

Quoting Antoninho: "Man, I am tired"

Nenhum comentário:

Postar um comentário