Weber on forecasting in eurosystem central banks

In the speech 'Forecasting in eurosystem central banks - Overview and challenges' given on 5 May Axel Weber of the Bundesbank said the European Central Bank's economic forecasts will be based on market expectations for interest rates in future, rather than on an assumption that rates will remain unchanged over the forecasting horizon.

'Starting in June 2006, Eurosystem and ECB staff macroeconomic projections will be based on the technical assumption that short-term market interest rates will move

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