Once a year, we undertake an assessment of our forecasts, including a comparison of the accuracy of our forecasts relative to those of financial market analysts. Generally our forecasts have compared favourably on this basis, and the results are published once a year in a box in the Monetary Policy Review.
All the same, the sector can post a return on equity averaging only 2–3 per cent p.a., which is not in tune with the risk incurred. And we should  BIS central bankers’ speeches  5  bear in mind that the effective interest rate after tax for a mortgage loan is less than 2 per cent at present.