Small business access to credit and the current financial market turmoil As we all know, financial market conditions began to deteriorate quite rapidly in the middle of last August.
The forecast horizon relevant for policy today is at least two, or even three, years. We can be relatively confident about forecasts for the first half of that horizon, as much of what is going to happen over that period is already set in place. But we can be less confident about the forecasts for the second half.