Thematic Pillar Hub · 1 Published Briefings

Definitions

Definitions institutional intelligence, quantitative benchmarks, primary regulatory filings, and market structure analysis from FinLexicon Wiki. Three ordinary words are carrying this week’s coverage. A hold is not a cut. Guidance is not the decision. A net percentage is not a count of firms.

Curated by Arthur Pendleton, CPA, JD (CPA, JD in International Banking & Basel Regulation) · Fact-checked by FinLexicon Wiki Institutional Review Board

Key Institutional Takeaways — Definitions

CNBC said the Fed, the ECB and the Bank of Japan were expected to hold, while hikes were priced for Canada and New Zealand.
Forward guidance, in the Pepperstone note CNBC quoted, is the part of a statement that can reprice meetings after this week.
In the ECB’s third-quarter SAFE survey, a net 46% of firms reported higher bank-loan interest rates, up from 42%. Net means increasers minus decreasers.

All Definitions Research Briefings (1)

2026-10-26Arthur Pendleton, CPA, JD

Hold, forward guidance, and the net percentage: three words doing work this week

Three ordinary words are carrying this week’s coverage. A hold is not a cut. Guidance is not the decision. A net percentage is not a count of firms.

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Frequently Asked Questions — Definitions

Does “expected to hold” mean the central bank has promised to hold?

No. It means the reports used here, CNBC and MUFG, describe the market and their own expectation that way. The statement is the promise, and it has not been published.

What is a net percentage in the SAFE release?

The ECB says a net percentage is the share of firms reporting an increase minus the share reporting a decrease. A net 46% is not “46% of firms”.

Why did the ECB warn about this round’s inflation numbers?

First-time respondents were a majority of the SAFE sample. The ECB said that makes the numerical questions, including selling-price and inflation expectations, harder to interpret in this round.

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