The-value-of-forecasting-in-an-uncertain-world

The-value-of-forecasting-in-an-uncertain-world

Forecasting is a valuable part of the monetary policy process, helping the Bank plan for the future, communicate its current understanding and intentions, and react to unexpected events, Reserve Bank Assistant Governor and Head of Economics Dr John McDermott said today.

During a speech to the New Zealand Manufacturers and Exporters Association (NZMEA) in Christchurch, Dr McDermott outlined the reasons why the Bank regularly produces and publishes forecasts and Official Cash Rate (OCR) projections.