This is always an ideal vision for central banks. In fact, the Bank of Japan has been making efforts to accurately analyze the past, present, and future economy. Though we make policy judgments based on these analyses, admittedly we conduct monetary policy under great uncertainty with limited second sight as well as imperfect data and information just like the metaphor of the car driver.
The foundation for the sustained improvements in macroeconomic management as well as bank regulation and supervision was the changes that were made to the institutional structure of governance in the 1990s. Of particular importance was the 1996 Constitution, which set out the mandate of the Bank of Uganda and guaranteed its independence to implement its mandate in accordance with the law.