forecast commonly imply that the outturn is expected to lie above [below] the central forecast. Investigating the inflation …

from the Inflation Report fan charts. I find that interest rate decisions react to deviations of the medium-term forecasts … for inflation from target in order to pursue the inflation target. Forecast inflation uncertainty has a strongly … in forecast uncertainty I find that forecast upward risks to inflation contribute to the intensifying effect of forecast …

for inflation. We find that these forecasts do not contain the intended information. Rather, they either have no …