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The Times

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I've been analysing the Bank of England's forecast over the past two years – here's how they got it wrong

  • Written by: Costas Milas, Professor of Finance, University of Liverpool

The Bank of England (BoE) has been strongly criticised for failing to predict the surge in inflation. Had it done so, it could have reacted more quickly and prevented inflation from rising as high as 11% in autumn 2022.

The bank acknowledges this failing and has asked former Federal Reserve chairman Ben Bernanke to lead a review of its forecasting...

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