I have doubts that many of the monetary authorities really know what they're doing. The RBA was calling and end to cyclical metal prices and suggesting higher prices were here to stay, right at the peak of the metals boom in '07 and before everything fell 30%-50%. Then late last year when it was apparent the question was not recession but how deep, the RBA was not forecasting a recession. Hard to see how their forecasts have any credibility really.
