Few central banks forecast policy rates

Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks

Forecasting major macroeconomic variables has always been one of the major activities of economists based in central banks. With the move towards greater transparency around monetary policy-making in particular, central banks now publish at least some of their forecasts.

Central Banking received replies from 29 central banks on what kind of economic variables they forecast. The data shows almost all central banks forecast future inflation and GDP growth rates. But the forecasting of other

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