During this period, some firms go out of business, some may complete surveys only partially, and some may choose not to respond at all to voluntary surveys. Therefore, devising reliable and accurate methodologies for what goes into which account, even with today’s technology, is no trivial task, especially for a modern, complex economy. (iii)  Estimation of potential output  38.
Indeed, the opposite is the case: the Governing Council has unanimously agreed to incorporate an easing bias into our forward guidance that explicitly provides for the possibility of further rate reductions, should the volatility in money market conditions return to the levels observed in the early summer.