It interesting to refer to what William Poole has noted in context of central bank communication, “Accurate communication requires settled meanings for words. For any given word, we can consult a dictionary and we usually discover that each English word has several meanings, which can be quite different. There is no dictionary in which we can look up the several meanings of a paragraph.
The meaning of a policy statement — preferably only one — must be established by the central bank, through consistent practice over time and through more extended discussion of what the language means” (Poole, 2003). Furthermore, expression of intention is not a one-off affair; on the contrary there are elements of incrementality in communication and reputation plays a role.