A rate decision is a document. The number is the easy part, and it is not always the news. The news is often the sentence around the number: whether the committee described inflation as sticky, whether it said the next move depends on data it has not yet defined, whether a member dissented. Those words are public. A trader’s reading of them is not our reading unless we attribute it to that trader.

We will not write that a Gulf or a Latin American central bank “is expected to” do a thing unless we can name who expects it and on what they are staking the expectation. Anonymous expectation is a way of putting the desk’s hunch into the paper. The desk’s hunch does not get a mask.

If you want the number, it will be the number in the statement, with the date of the statement. If the statement is not out, we do not preview a number we do not have. The absence is the piece.