BoE opens up its macro models in push for transparency

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The Bank of England (BoE) has published a working paper that lifts the lid on its main macroeconomic forecasting models, and offers explanations of their practical use in informing monetary policy.

Forecasting at the Bank of England has come in for criticism as the central bank has been accused of persistently overestimating growth and underestimating inflation. David Stockton, a former director of research and statistics at the Federal Reserve, was commissioned by the Bank of England's court

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