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UK Bernanke Review of BoE Forecasting (Apr. 2024)

Our initial impression of the changes to the Bank of England’s forecasting and communications recommended by Ben Bernanke is that they would go a long way to helping the Bank generate more accurate forecasts, explain them more clearly and highlight the risks. It appears any changes are unlikely to be implemented before next year. But it’s a shame Bernanke stopped short of recommending the Bank publishes projections for interest rates.

Our more detailed analysis is available here.

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