Inflation Expectations survey perform relative to the random-walk forecast when it comes to predicting five financial variables …-walk forecast for the repo rate and Prague Interbank Offered Rate at the onemonth forecasting horizon. For the five-year and ten … horizons. For the CZE/EUR exchange rate, no statistically significant differences in forecast precision were found. …

data from 1995Q4 to 2021Q4 and Bayesian estimation methods, we find that trend inflation has been well-anchored during the …

estimation methods. Specifically, we employ VAR models with drifting parameters and stochastic volatility which are used to … reflected in our out-of-sample analysis, as it does not translate into a corresponding improvement in forecast accuracy. …

frequently participate in the survey manage to significantly outperform the random-walk forecast. For the central bank's policy … rate, the market participants typically have a statistically significant higher forecast accuracy than the random …-walk forecast at the three-month horizon; however, at the two- and five-year horizons, the random-walk forecast typically outperform …