BIS Review 15/2003  3  objective), and public release of the central bank's forecast or evaluation of the economy (as reported, 9 for example, in the Inflation Reports issued by a number of inflation-targeting central banks). Why have inflation-targeting central banks emphasized communication, particularly the communication of policy objectives, policy framework, and economic forecasts?
In the 1960s, many economists were greatly interested in adapting sophisticated mathematical techniques developed by engineers for controlling missiles and rockets to the problem of controlling the economy.