Reading a Central Bank Decision in 90 Seconds

What to read first

Forget the cover letter. Jump to the forward guidance paragraph: the bank is telling you, in unusually plain English, what it expects to do next.

Then check two charts

1. Inflation projections. If the bank is revising up, expect higher-for-longer.
2. Unemployment projections. Rising unemployment forecasts often precede cuts.

That is enough. The rest is for analysts billing by the hour.