The attempt to bring down the value of an economic variable through persuasion by the authorities. The variable concerned could, for example, be inflation or the exchange rate. Talking down works via policy announcements by influential people such as central bank governors or finance ministers. As a substitute for substantive policy measures such persuasion is likely to be most successful when the authorities have credibility. As a complement to the use of practical policy instruments, talking down may help to bring about adjustment faster and at lower cost in terms of real activity than just using monetary or fiscal policy without explaining what results this is intended to achieve.