The use of statistical forecasting models at the Reserve Bank of New Zealand

Release date
Vol. 72. No. 2. June 2009
Chris Bloor
Economic forecasts, in particular the forecasts for inflation, are an important part of the monetary policy formulation process at the Reserve Bank. The forecasts from a range of statistical models provide an important cross check for the forecasts produced by the main policy model that supports the policy deliberation process. This article describes the suite of statistical models used at the Reserve Bank and how these models fit into the forecasting process.