At the same time, it is important to note that the monetary policy decision is ‘not rigidly and mechanically linked to forecasts’, not least because of all the uncertainties I have just been discussing.
[16] Another way of putting this is that we can try and make the monetary policy decision-making system as robust as possible to the inherent uncertainty that we have no choice but to deal with. Conclusion Most (all?) decisions in life are taken under some degree of uncertainty. This is because decisions are about something that will happen in the future, which is uncertain.