In the context of monetary policy, the fact that statistical data are not available for the current point in time (in real time); a central bank therefore also has to rely to a large extent on estimates. Monetary policy decisions by a central bank are therefore always based to a large extent on imperfect knowledge of the current state of the economic process. – See instructions, monetary policy, baseline, data uncertainty, two-pillar principle. – Cf. Deutsche Bundesbank Monthly Report, January 2005, pp. 23 f. (problem situation).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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