Bank of England Monetary Policy Committee member Ian McCafferty says that business surveys are an indispensable aide to policymakers, providing a timely take on economic developments. McCafferty's comments came in the text of remarks made at a non-public central bank workshop on November 20, and released by the BOE Monday. He made the case for factoring business survey results into policy decisions, but did not specifically address the current policy environment. "The official data are often subject to revision and in some cases survey data can paint a more accurate picture of real time developments until the ... (full story)