Forecasting would improve with more regular data, says RBNZ’s McDermott

The Reserve Bank of New Zealand (RBNZ) would be able to improve its forecasting if statistical data was released more frequently, an assistant governor at the central bank has said.

Speaking four days after the release of the RBNZ’s latest forecasts, John McDermott attempted to explain to an audience in Christchurch what the value of forecasting was, given that the financial climate remained uncertain.

“One significant limiting factor to forecast improvement is data: macroeconomic statistics