Some other central banks instead publish minutes of their monetary policy meetings, which amounts to much the same thing. Our communications activities are also intended to assist the economy by stabilising inflation expectations.
Published forecasts help markets assess the economic environment and understand our policy strategy.5 We have published policy outlooks since 1997 in the form of a future path for short term interest rates. A number of other central banks, including those of Sweden and Norway, have subsequently followed this practice.