The problem with this common practice was revealed during the global financial crisis and subsequent Great Recession. The events illustrated a key weakness in most macroeconomic policy models at the time. In particular, they captured fewer and less-detailed linkages between financial markets and the real economy than ideal.
They also revealed the need for the profession to work toward the goal of  4  Kozicki and Vardy and the references therein outline ways in which the Bank of Canada seeks to explain its economic outlook and monetary policy decisions, with an emphasis on how different sources of uncertainty factor into monetary policy communications.