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    <title>RBI discusses Challenges to Policy Making and Evolving Role of Statistical Analysis at its Seventh Statistics Day Conference</title>
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    <description>Statistical measurement and analysis are central to policy formulation, with key issues including choice of inflation aggregate, potential output and threshold inflation for policy rules, neutral interest rate assessment, equilibrium exchange rate benchmarking, and development of financial stability and stress indicators. Methodological responses emphasised integrating qualitative survey data into forecasting, adopting alternative methods for high dimensional data using sparsity and Bayesian structure detection, and enhancing macroeconomic and financial market modelling. Institutional recommendations called for treating statistics as a public good, harmonising data definitions, straight through processing for reporting, and expanding corporate finance and asset price statistics.</description>
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