https://www.taxtmi.com/news?id=26646 Statistics underpin monetary policy by supplying backward- and forward-looking evidence to manage uncertainty, calibrate trade-offs between growth and inflation, and inform the policy reaction function. The RBI employs a full-information framework combining external sector and corporate finance databases with forward-looking household and enterprise surveys. A three-stage forecasting process-nowcasting, near-term full-information forecasts, and macro-model-based longer-term projections-uses fan charts for uncertainty communication. Increasing incorporation of AI and big-data sources creates high-frequency indicators that complement traditional statistics and improve policy responsiveness. en-us Mon, 03 Jul 2023 10:29:42 +0530 Mon, 03 Jul 2023 10:29:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=26646 Statistics underpin monetary policy by supplying backward- and forward-looking evidence to manage uncertainty, calibrate trade-offs between growth and inflation, and inform the policy reaction function. The RBI employs a full-information framework combining external sector and corporate finance databases with forward-looking household and enterprise surveys. A three-stage forecasting process-nowcasting, near-term full-information forecasts, and macro-model-based longer-term projections-uses fan charts for uncertainty communication. Increasing incorporation of AI and big-data sources creates high-frequency indicators that complement traditional statistics and improve policy responsiveness. News - Mon, 03 Jul 2023 10:29:42 +0530 https://www.taxtmi.com/news?id=26646