The Value of Dots in Policy Guidance

The value of that dots is quite debatable, because more often, after presenting those dots, Chair Powell dismisses them to say it's guesstimates for each member. I do not think that the Fed comes out as clearer than the ECB. Now coming back to the UK, we used to have the fan charts and everything else, and more often economic outcomes ended up being further away from those fan charts. And when things become an art, they become less clear. When they becomeLess clear, markets become very volatile. That's where I'm coming from. What I am saying in terms of policy guidance is that the anchors have to be firm, established, and we follow them