The prediction of inflation is of the utmost importance in the implementation of monetary policy because changes in policy measures are based on likely future price developments. The fact that inflation targeting has to rely on forecasting has led to the criticism that this is a weakness of the technique because forecasts are inherently unreliable.
Further adjustments to the operating model are central to the WBG Evolution agenda. We expect clear and concrete proposals for strengthening knowledge delivery and outcome orientation to be discussed at the Annual Meetings in Marrakech.