BoE unlikely to predict next financial crisis, says MPC member
BoE MPC members grilled by MPs on forecasting models and past errors
A member of the Bank of England's (BoE) monetary policy committee has come out and said the central bank will not be able to forecast the next financial crisis as its models are simply "just not that good".
Speaking in front of the Treasury Committee today (February 21), Gertjan Vlieghe argued against the idea the BoE would be able to deliver "flawless" forecasts if its models were improved.
The external MPC member stressed forecasting errors are always going to be inevitable, no matter how good
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