For example, we recently updated one of our main projection models to include a richer role for indebted households in the transmission of monetary policy—a timely innovation, given that household debt has increased notably in Canada in recent years.3 We use competing models to inform our deliberations when possible. This is like getting your investment advice from more than one broker.
We are also exploiting multiple sources of information, such as surveys of businesses, to improve our reading 1/6  BIS central bankers' speeches  of the economy. It would be fabulous if these efforts could eliminate uncertainty altogether, but the real world is not so obliging.