Which Central Bank Is the Most Accurate Forecaster?

Bloomberg has ranked the biggest central banks on accuracy of their outlooks

A runner passes the Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Friday, Nov. 18, 2016. Federal Reserve Chair Janet Yellen told lawmakers on Thursday that she intends to stay in the job until her term expires in January 2018 while extolling the virtues of the Fed's independence from political interference.Photographer: Andrew Harrer/Bloomberg

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By Lucy Meakin, David Goodman, and Andre Tartar

January 17, 2018 at 9:39 AM UTC

This article is for subscribers only.

No central bank is perfect but for forecasting its key metric, the Bank of England is at the bottom of the pile.

The three-century-old institution has the worst track record for predicting inflation in its home economy, according to the latest Bloomberg ranking of Group of Seven central banks. The Bank of Canada has the best.