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RBA Glossary definition for basis point
basis point – A basis point is 1/100th of 1 per cent or 0.01 per cent, so 100 basis points (bps) is equal to 1 percentage point. The term is used in money and securities markets to define differences in interest or yield. If an interest rate were to increase from 2 per cent to 3 per cent, it is said to have risen by 100 basis points (bps) or one percentage point.
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Gauging the Uncertainty of the Economic Outlook Using Historical Forecasting Errors: The Federal Reserve's Approach
1 Feb 2017
RDP
2017-01
Table 1A shows differences in timing and frequency of publication, horizon, and reporting basis. ... as are GDP growth and CPI inflation when reported on a calendar year-over-year basis.
https://www.rba.gov.au/publications/rdp/2017/2017-01/full.html
Data Sources
8 Mar 2017
RDP
2017-01
Table 1A shows differences in timing and frequency of publication, horizon, and reporting basis. ... Strictly speaking, no historical forecasts of short-term interest rates conform with the basis employed by the FOMC, the target level of the federal
https://www.rba.gov.au/publications/rdp/2017/2017-01/data-sources.html
Fan Charts
8 Mar 2017
RDP
2017-01
When coupled with the FOMC's qualitative assessments, which often point to skewness arising from factors outside our historic sample, the overall picture seems informative. ... Another approach would be to truncate the interest rate distribution at zero,
https://www.rba.gov.au/publications/rdp/2017/2017-01/fan-charts.html
Methods for Gauging Uncertainty
8 Mar 2017
RDP
2017-01
Such an approach does not mean that forecasters generate probability estimates with no basis in empirical fact; rather, the judgmental approach simply requires the forecaster, after reviewing the available evidence, to ... Achieving agreement on this
https://www.rba.gov.au/publications/rdp/2017/2017-01/methods-for-gauging-uncertainty.html
Estimation Results
8 Mar 2017
RDP
2017-01
real GDP forecasts also level out over the forecast horizon at about 2 percentage points. ... Both sets of estimates are measured on a consistent basis, with the same data definitions.
https://www.rba.gov.au/publications/rdp/2017/2017-01/estimation-results.html