In this paper, a simple model of information asymmetry is used to study central bank forecast publication. Central … banks are assumed to choose between not publishing a forecast, publishing a forecast that conditions on current policy …, publishing an unconditional forecast, or publishing both. There is no incentive for the central bank to publish forecasts unless …

the assumptions that interest rates remain constant over the forecast horizon, follow a path as expected by market … expectations yielding the highest forecast accuracy to conditioning on constant interest rates yielding the lowest. Yet, when …