A "cautious tone" means expressing ideas or opinions carefully and with some hesitation, avoiding taking risks or being overly confident. Full definition
Today, fears dominate the financial news, and we have a slightly more cautious tone overall. (leggmasonglobal.com)
Bank of Canada Governor Stephen Poloz has struck a decidedly more cautious tone in recent months. (business.financialpost.com)
Nick Clegg struck a decidedly cautious tone over Syria today, raising questions about how much support there is in government for David Cameron's increasingly hawkish stance over the conflict. (politics.co.uk)