[calgarygeologist]

Originally Posted by Slava

That bolded statement is paramount. Analysts and pundits parse through these statements for any hint of foretelling what the path is going to be. There's no blanket "we guarantee low rates, so buy now!" kind of wording at all.

Here is how the Bank of Australia Governor is communicating with the public currently which might be an interesting comparison to Tiff Macklem.

https://www.abc.net.au/news/2022-11-...ages/101705340

Reserve Bank Governor Philip Lowe has apologised to Australians for giving them unclear guidance that led to hundreds of thousands taking out big mortgages in the expectation that interest rates would stay low until 2024.

Towards the end of 2020 and for nearly all of last year, Dr Lowe said interest rates would not likely rise until 2024.

At that time, almost 300,000 Australians took out loans six or more times their incomes, some with deposits as low as 10 per cent, based on that guidance.

He said with the benefit of hindsight he would have been more clear with his message that rates would not rise until 2024, but his message always came with caveats.

Nevertheless, he said the central bank should have done more to make those caveats clear to the public.

"I'm sorry that people listened to what we've said and acted on that, and now find themselves in a position they don't want to don't want to be in," Dr Lowe said.

"But at the time, we thought it was the right thing to do. And I think looking back would have chosen different language.

"People did not hear the caveats in what we said. We didn't get across the caveats clearly enough, and the community heard 2024. They didn't hear the conditionality.

"That's a failure on our part, we didn't communicate the caveats clearly enough, and we've certainly learned from that."

Dr Lowe said the Reserve Bank would now change its approach in how it communicates to the public.