(Yes, I know that that would actually be ビジー)
Literally: beautiful – word – lovely – phrase
Alternately: Pretty turns of speech. Flowery phrasing. Artful rhetoric. As with previous post-fodder 外交辞令, there’s an implication of speech that is pleasing on the surface but hollow underneath. And while that phrase can also refer to tact or diplomacy, 美辞麗句 is almost always used critically, of someone who mouths insincere platitudes with an ulterior motive in their heart.