They must gather data and information. While central banks have used real time financial data, the COVID-19 pandemic has highlighted the importance of alternative economic data, including high-frequency data, textual data, and granular data (Chart 2).9 Data are about the past. To gain some ideas about the future, surveys and interviews are useful.
At present, the trend of increased corporate profits has been maintained, and there seems to be few signs of adverse effect on the real economy. Needless to say, however, we remain watchful of stock market developments and their potential ramifications.