The bad news is that Lagarde’s vague announcement seems to have done little to shape market expectations or make governments more comfortable requesting IMF assistance. This underscores a fundamental point: successful forward guidance requires, above all, credibility.
坏消息是拉加德的含糊表态并不能形成市场预期或让各国政府在要求IMF援助时更加安心。这凸显出一个基本问题：成功的前瞻性指引最重要的条件是信誉。