India’s External Affairs Minister S. Jaishankar, standing next to Russian Foreign Minister Sergey Lavrov in Moscow, once remarked that India was “perplexed” by US criticism of its energy trade with Russia. His choice of a single word, used with precision, carried both logic and diplomatic weight.That moment captures a lesson central bankers know well: language is a policy tool in its own right. Carefully chosen words can shift financial markets, steer expectations, and achieve outcomes that might otherwise demand heavy use of traditional levers.
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