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Are Weekly Inflation Forecasts Informative?

  • Marlene Amstad
  • Andreas M. Fischer

Are weekly inflation forecasts informative? Although several central banks review and discuss monetary policy issues on a bi-weekly basis, there have been few attempts by analysts to construct systematic estimates of core inflation that supports such a decision-making schedule. The timeliness of news releases and macroeconomic revisions are recognized to be an important information source in real-time estimation. We incorporate real-time information from macroeconomic releases and revisions into our weekly updates of monthly Swiss core inflation using a common factor procedure. The weekly estimates for Swiss core inflation find that it is worthwhile to update the forecast at least twice a month.

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File URL: http://www.snb.ch/n/mmr/reference/working_paper_2008_05/source/working_paper_2008_05.n.pdf
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Paper provided by Swiss National Bank in its series Working Papers with number 2008-05.

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Length: 43 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:snb:snbwpa:2008-05
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