This process forces questions to be asked and issues to be analysed, and is a central part of good monetary policy. But because it is commonplace for there to be fairly high levels of uncertainty around the point forecasts, there is also an important role for judgement by policymakers.
The central theme of the Third Quarter Review is the challenge of managing the transition to higher growth path, accompanied by low and stable inflation and well anchored inflation expectations. The objective is to firmly entrench potential output and productivity and thereby create the conditions for a further acceleration of growth.