Forecasting for monetary policy making and communication at the Bank of England: a review

In July 2023 the Court of the Bank of England announced that Dr Ben Bernanke would lead an independent review into the Bank’s forecasting and related processes during times of significant uncertainty. That Review, published on 12 April, provides a thorough assessment of the Bank’s current forecasting approach, and the relationship between the forecast, monetary policy decisions, and their communication.

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