Poor software and bias toward making only small, sequential changes are some of the reasons economic forecasters at the Bank of England failed to predict and prepare for the cost of living crisis, brought about by high inflation, according to a “once in a generation” review.
Source link : https://news.sky.com/story/once-in-a-generation-review-reveals-why-bank-of-england-keeps-getting-its-forecasts-wrong-13113162
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Publish date : 2024-04-12 11:00:00
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‘Once in a generation’ review reveals why Bank of England has made major forecasting errors
