Working group minutes: Central banks adopt scenario analysis
Approach is guiding institutions’ responses to Middle East war and El Niño
Faced with high levels of uncertainty, central banks are making more use of scenario analysis to set and communicate policy, Central Banking’s latest interbank working group heard.
The group, which held in two sessions on September 30, explored the practicalities of deploying scenario analysis, including modelling choices, how staff discuss and refine scenarios with policy-makers, and which elements are presented to the general public.
Many respondents said they had adopted forms of scenario
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