Evaluation of Norges Bank’s Projections in 2012
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Norges Bank's projections of inflation and economic developments form an important basis for interest rate setting. An evaluation of the projections can provide us with increased insight into the functioning of the economy and help improve our analytical tools. In this article, Norges Bank's projections for 2012 are evaluated. The article starts with a brief overview of developments through 2012, followed by a look at the projections for 2012 that were presented in Norges Bank's Monetary Policy Report (MPR) from the end of 2011. A comparison of Norges Bank's projections and projections from other forecasters is also included.