Commentators sharpen knives ahead of Bank’s forecasts
Leading news sources in the United Kingdom have attacked the Bank of England's forecast techniques ahead of the central bank's publication of its quarterly Inflation Report on Wednesday.
The Financial Times, a business newspaper, said on Monday that an audit of the forecasts used by the Bank in setting rates showed the predictions, which are issued in the Inflation Reports, were optimistically skewed, and lacked credibility. The newspaper lambasted the Monetary Policy Committee's (MPC)
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