As we continue our monetary policy accommodation to support our economy’s trend of growth, and closely examine changes in real economic and financial stability conditions, we will need to judge carefully the necessity of any adjustment in the degree of accommodation.
We are a long way from the days when central bankers cultivated their ability to “mumble with great incoherence”. 23 To inform the market about the uncertainty inherent in projections, some central banks publish fan charts showing the range of possible outcomes around the highest probability scenario.