Forecasting for monetary policy

Laura Coroneo

International Journal of Forecasting, 2026, vol. 42, issue 1, 22-33

Abstract: This paper discusses three key themes in forecasting for monetary policy highlighted in the Bernanke (2024) review: the challenges in economic forecasting, the conditional nature of central bank forecasts, and the importance of forecast evaluation. In addition, a formal evaluation of the Bank of England’s inflation forecasts indicates that, despite the large forecast errors in recent years, they were still accurate relative to common benchmarks.

Keywords: Bernanke review; Bank of England; Inflation forecasting; Forecast evaluation; Monetary policy communication (search for similar items in EconPapers)
Date: 2026
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Working Paper: Forecasting for monetary policy (2025)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfor:v:42:y:2026:i:1:p:22-33

DOI: 10.1016/j.ijforecast.2025.05.003

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