Bank of England economist critiques new forecasting strategy

Bank of England Chief Economist Huw Pill said on Monday that the central bank’s shift in communications to focus on multiple ​scenarios rather than a single forecast makes it harder for rate-setters to ‌reach a collective viewpoint, echoing concerns among other policymakers.

The central bank in April stopped publishing a single central projection for the economy in favour of three separate ​scenarios and in 2025 began including individual Monetary Policy Committee members’ ​own explanation of...