11 January 2006, 10:22  Bank of England sets up unit to produce its own economic figures

The Bank of England has set up a unit to produce its own economic figures because it does not trust official statistics, a report claimed. The Bank has set up a "Data Uncertainty" team to find holes in figures produced by the Office for National Statistics (ONS) and to plug them with the help of private surveys and reports from the Bank's regional observers, the Daily Telegraph reported without naming its source. The Bank created the team last year as a gap opened up between official numbers and private surveys, the report said. The ONS, under new national statistician Karen Dunnell, is in the process of becoming more independent from the Treasury in order to be seen as more trustworthy, it said.

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