Central bank press conferences: statement first, Q and A second
Posted: Sat Oct 31, 2026 8:03 pm
Rate decisions come in two phases, and they often move the market in opposite directions. Knowing the structure helps avoid being caught on the wrong side.
The statement arrives first, along with the decision. Price reacts to the wording relative to expectations. A tweak in a single phrase can trigger a sharp move. Then the press conference starts, usually 30 to 45 minutes later, and the chair's tone and answers provide new information.
It's common for the initial move to be partially or fully reversed during the Q and A. A comment about future policy can be more important than the decision itself.
For scalpers, the period between the statement and the conference is a minefield. Spreads stay elevated, ranges are large and direction is uncertain.
Some sit out the whole event. Others trade only the press conference, once the statement reaction has settled and the new information is clearer.
Whichever approach is used, deciding in advance beats improvising mid-event.
Transcripts and live blogs help with the Q and A phase, since a single quoted sentence can move price within seconds. Reading the headline feed, not the video, tends to be faster and gives a clearer picture of what actually triggered the move.
Which part of a central bank event do you find most tradeable?
The statement arrives first, along with the decision. Price reacts to the wording relative to expectations. A tweak in a single phrase can trigger a sharp move. Then the press conference starts, usually 30 to 45 minutes later, and the chair's tone and answers provide new information.
It's common for the initial move to be partially or fully reversed during the Q and A. A comment about future policy can be more important than the decision itself.
For scalpers, the period between the statement and the conference is a minefield. Spreads stay elevated, ranges are large and direction is uncertain.
Some sit out the whole event. Others trade only the press conference, once the statement reaction has settled and the new information is clearer.
Whichever approach is used, deciding in advance beats improvising mid-event.
Transcripts and live blogs help with the Q and A phase, since a single quoted sentence can move price within seconds. Reading the headline feed, not the video, tends to be faster and gives a clearer picture of what actually triggered the move.
Which part of a central bank event do you find most tradeable?