First, the large variety of data that has become available over the years has confirmed that there is no one, single measure of inflation expectations, since different economic agents ‒ households, firms, professional forecasters, market operators ‒ all have heterogeneous perceptions about the future dynamics of prices.
The Bank of Uganda is very pleased to co-host this meeting with the BIS because it comes at a critical time for central banks in Africa, which are still grappling with the myriad consequences of the global economic crisis. Foreign reserves management is a core function of central banks all over the world. It is particularly important for developing countries.