{
  "scope": "UK inflation belief and market-mapping sensitivities only; UK expected nominal and foreign component frozen",
  "hmt_baseline": "25bp observationSD; estimated innovation variance; full-sample parameters",
  "hmt_responsive": "12.5bp observationSD; estimated innovation variance; full-sample parameters",
  "hmt_fixed_innovation": "25bp observationSD; fixed5bp monthly state innovationSD; filtered",
  "hmt_last_published": "Latest available HMT terminal-calendar-year mean; no smoothing; no backfill",
  "mps": "Exact5-10 CPI distribution; finite tails; published-date last observation; max180days old; no splice",
  "market_mapping": "Three frozen CPIH-equivalent market conversions, not three independent markets",
  "quarterly": "Daily means within complete quarters; at least80% of UK reference dates and reference count>=30; equal quarter weights",
  "gap_stress": "An extra +/-25bp change between comparison-window means in expected CPIH-CPI/horizon gap; illustrative, not calibrated",
  "envelope": "Specification range; not confidence interval; unknown biases are not bounded"
}