Reactions to the Bernanke Review from Bank of England watchers

We summarize reactions to the Bernanke Review from the Bank of England watchers community – a diverse group of academics, market economists, and business analysts who closely monitor and analyze the actions of the Bank of England. Key themes include the Review’s recommendations to retire the “fan chart”, increase the use of scenario analysis, and de-emphasize the central forecast conditioned on the market yield curve, as well as its critique of the Bank’s forecasting infrastructure. There is also extensive discussion of areas left unaddressed by the Review, including whether the Monetary Policy Committee should publish its preferred policy rate path, adopt a Fed-style dot plot, or give Bank staff ownership of the forecast.

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Publication Details

Journal
International Journal of Forecasting
Published
2025-05-19
DOI
https://doi.org/10.1016/j.ijforecast.2025.03.006
Citations
2
Primary Topic
Monetary Policy and Economic Impact
Type
article
Field-Weighted Citation Impact
3.09
Controls
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article

Reactions to the Bernanke Review from Bank of England watchers

Richard Barwell, David Aikman
2 citations
International Journal of Forecasting
Monetary Policy and Economic Impact
3.09
article

Reactions to the Bernanke Review from Bank of England watchers

Richard Barwell, David Aikman
article en
2 citations

Abstract

We summarize reactions to the Bernanke Review from the Bank of England watchers community – a diverse group of academics, market economists, and business analysts who closely monitor and analyze the actions of the Bank of England. Key themes include the Review’s recommendations to retire the “fan chart”, increase the use of scenario analysis, and de-emphasize the central forecast conditioned on the market yield curve, as well as its critique of the Bank’s forecasting infrastructure. There is also extensive discussion of areas left unaddressed by the Review, including whether the Monetary Policy Committee should publish its preferred policy rate path, adopt a Fed-style dot plot, or give Bank staff ownership of the forecast.

International Journal of ForecastingVol. 42(1)
King's College London (GB), King's College School (GB), BNP Paribas (United Kingdom) (GB), Institute of Finance and Banking (CN)
Decent work and economic growth
Openalex Percentile: Top 11%
Monetary Policy and Economic Impact
3.09
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