The Reserve Bank periodically reviews the procedure for selecting the banks and the methodology of polling so as to ensure that the reference rate remains a true reflection of market activity. (v)  Data interpretation: need to look behind the data  43. Information Technology has improved data availability. Paradoxically, this has also increased the likelihood of misinterpretation of data.
In his recent book, Thinking, Fast and Slow, Daniel Kahneman explains where we can and where we cannot trust our intuition and how we can tap into the benefits of slow thinking. 3  Orphanides, A (2001): ‘Monetary policy rules based on real-time data’, American Economic Review, 91, 964–985. BIS central bankers’ speeches  7  44.