Christensen, I., C. Meh, and K. Moran. 2010. “Bank Leverage Regulation and Macroeconomic Dynamics.” Bank of Canada and Université Laval. Manuscript. Christiano, L., R. Motto, and M. Rostagno. 2010. “Financial Factors in Economic Fluctuations.” European Central Bank Working Paper No. 1192. Curdia, V. and M. Woodford. 2010.
The projection which we published last week was finalised on 1 March, and yet the latest comprehensive data we have on economic activity is for a quarter which finished five months earlier, and we know that data for that quarter may be revised, and revised again, for many quarters to come.