Stevens calls for end to obsession with central forecasts
Governor considered abolishing central line in fan charts
Reserve Bank of Australia (RBA) governor Glenn Stevens expressed his frustration at the "inordinate attention" being paid to changes in its central forecasts in a speech today (November 24).
Although the central point is more probable, in the RBA's judgement, than any other outcome, the likelihood "is in fact not that high at all", the governor told a gathering of the Australian Business Economists. The RBA publishes fan charts in an attempt to convey that uncertainty, but "it seems we have not
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