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BOE: Our economic forecasts will always be wrong

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Telegraph: Bank of England: Our economic forecasts will always be wrong

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The Bank of England will "probably not forecast the next financial crisis" as economic forecasting can never be completely accurate, top officials have warned.

The Bank has poured resources into economic forecasting since the financial crisis when its predictions were utterly wrong.

But even so, it struggles to get the numbers spot on. Last year it anticipated a sharp economic slowdown following the Brexit vote, but in fact the economy has continued growing at almost exactly the same pace as it did before the referendum.

 

Wasn't this discussed here?

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So, basically, as long as the economy is the same today as it was yesterday, then they do a pretty good job at predicting it? How... useful. Do they happen to mention what they think will happen when we all get swamped by debt?

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