Looking forward, central banks play an important role in preserving price and financial stability in their own constituencies, but also in stabilising the global financial system. However, it would be a misconception to believe that central bank actions alone are enough.
Can they be integrated into the forecasting procedures, and how can the results be communicated? Moreover, another central direction for future work might be the adoption of formal forecast and model combination methods to take account of model uncertainty in an effective manner and to make efficient use of the large datasets that are nowadays available for forecasting at central banks.