
Revolutionizing the Bank of England’s Forecasting Method: A Modern Update
Modernising the Bank of England’s Forecasting Approach Quick Look Bernanke recommends modernising BoE’s outdated forecasting tools and techniques. Suggests replacing the ‘fan chart’ with multiple scenario analyses for better accuracy. Advises against radical changes in publishing interest rate forecasts to avoid policy constraints. BoE plans to update data platforms and refine communication strategies soon. Former…