The fan chart is constructed so that outturns of inflation are also expected to lie within each pair of the lighter red areas on 30 occasions. In any particular quarter of the forecast period, inflation is therefore expected to lie somewhere within the fan on 90 out of 100 occasions. And on the remaining 10 out of 100 occasions inflation can fall anywhere outside the red area of the fan chart. Over the forecast period, this has been depicted by the light grey background. See the box on pages 48–49 of the May 2002 Inflation Report for a fuller description of the fan chart and what it represents. BIS central bankers’ speeches  21  Chart 11: The uncertainty parameter in the one year ahead inflation and GDP fan charts Inflation  Standard deviation  GDP  2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2  1998Q1  2001Q1  2004Q1  2007Q1  2010Q1  0.0  2013Q1  Source: Bank calculations. Notes: The chart shows the standard deviation implicit in the one year ahead probability distribution published in the MPC Inflation Reports since 1998. See the box on pages 48–49 of the May 2002 Inflation Report for a fuller description of the fan chart.
Thank you Chair  INTERNATIONAL MONETARY AND FINANCIAL COMMITTEE  the IMFC Deputies meeting Tuesday, September 20, 2022, Statement by Mr. Mouatassem BOUDIAF Deputy Governor Bank of Algeria On behalf of Islamic Republic of Afghanistan, Algeria, Ghana, Islamic Republic of Iran, Libya, Morocco, Pakistan, and Tunisia Session 2 MD’s Global policy Agenda Thank you, Chair. I will be brief. We welcome the Managing Director’s GPA, which we believe is balanced and well focused. We particularly welcome and strongly support the GPA’s emphasis on “acting together and acting now” to alleviate the immediate hardship due to successive years of global crises, and to build resilience for addressing future shocks. Food insecurity and debt distress are two key challenges facing the developing countries where a global collaborative approach is most urgently needed. It is also important to recognize that the current geopolitical fragmentation will likely have major longer term implications for the global economy and lasting impact on global trade, including energy, and supply chains, for which we have to prepare. We welcome the Fund’s readiness to enhance and adapt its lending toolkit to address not only the immediate financing needs related to the two overlapping crises, but equally importantly, the future crises that could not be easily anticipated. In this connection, we welcome the establishment of the RST and urge members with strong external positions to meet its funding requirements, including through additional pledges to channel SDRs and bilateral contributions.