Riksbank says own inflation forecasts are among least accurate
Study compares central bank’s forecasts with those of nine other institutions
Sweden’s central bank says that its own estimates of the country’s future policy rate and of some inflation measures have been among the least accurate of all forecasters.
Sveriges Riksbank reached this conclusion by studying the accuracy of forecasts published over the last 10 years by itself and by other organisations. The variables forecast included GDP growth, the policy repo rate and two measures of inflation: the consumer price index (CPI) and CPI with a fixed interest rate (CPIF).
The
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