This Data Quality Framework, published in November 2008, sets out the Statistics Division's approach to meeting international quality standards for statistics. It applies to the regular production of the Bank's monetary and financial statistics.
The Data Quality Framework is based around six dimensions of data quality which are officially supported by Eurostat, the European Commission's statistical office. These cover: relevance; accuracy; timeliness & punctuality; accessibility; comparability; and consistency.
Included in the Framework are:
- a description of how the Bank produces monetary and financial statistics, by using its statutory powers for information gathering;
- new definitions covering measurement of data coverage and analysis of revisions;
- numerous links to existing articles on data quality previously published by the Bank;
- links to the Bank's Statistical Code of Practice, with which the Framework is fully compatible;
- links to key international statistical standards, such as the System of National Accounts, and to information on data quality standards maintained by the UK's Office for National Statistics.