ForewordOn the basis of his thorough review of the Bank of England’s (Bank’s) macroeconomic forecasts and their role in policy preparation and communication (Bernanke (2024)), former Federal Reserve Chair Ben Bernanke offered several recommendations to improve the forecasting process underlying the decisions of the Monetary Policy Committee (MPC). One such recommendation included the suggestion that ‘the staff should be charged with highlighting significant forecast errors and their sources, particularly er ...