Inflation Targeting In Practice: Models, Forecasts and Hunches - speech by Rachel Lomax

Ms Lomax says that "no monetary policy-maker can avoid taking a view on the future. That view needs to be coherent and disciplined. But it also needs to reflect ..the massive uncertainties inherent in any forecast." She explains how forecasts help to organise, inform and focus the MPC's discussions, and provide transparency about the MPC's thinking.

Press release