Bernanke Review at BOE to Probe Use of Market Rates in Forecasts

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 50%

Business News News

Business Business Latest News,Business Business Headlines

Ben Bernanke’s review into the Bank of England’s forecasting process will look into whether the market path for interest rates should continue to be used as the main assumption from which to build its projections.

The UK central bank on Monday set out the terms of reference for Bernanke’s review, focusing the former US Federal Reserve chair on five key aspects of the process. Those include “the appropriate conditioning assumptions in projections, including the interest rate path on which the forecast is based.”

The review is focused on the lessons to be learned for future forecasts “during times of significant uncertainty.” It will not pass judgment on past policy decisions, the terms of reference showed. Last November, when the rate path partially reflected the chaos caused by the Liz Truss budget program, the forecast was for a deep recession that Governor Andrew Bailey tried to play down in his subsequent public comments.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in BUSİNESS

Business Business Latest News, Business Business Headlines