Nobel Prize-winning economist and former Federal Reserve chair Ben Bernanke will lead a review into the Bank of England’s forecasting processes, to review the Bank’s recent economic predictions, which have had a poor track record.
Bernanke will lead a review into the Bank’s “forecasting and related processes during times of significant uncertainty”. It will look at “the role of the forecast” and how this should inform the Monetary Policy Committee’s decisions to raise or lower interest rates.
