Banking
Ben Bernake’s Bank of England review paints a sobering picture of central banks
The former Fed chairman’s critical review finds that all central banks are flailing when it comes to forecasts
After a months-long forensic review of the Bank of England’s forecasting by one of the world's most esteemed central bankers, it turns out the major problem was aged software and an out-of date central model.
And while conclusion is a gross simplification of Ben Bernanke's review, it is nonetheless the case that his 86-page report was far more technocratic than dramatic.
In a painstaking comparison of other central banks and external forecasters, he found the ...
