Moessner, Richhild - de Nederlandsche Bank - 2014
the ECB.s monetary policy credibility as measured by long-term inflation expectations, by looking at their effects on euro … area inflation swap rates of maturities up to 10 years. We consider asset purchase programmes and long-term refinancing … operations with maturities above 6 months. We find that these announcements only led to a slight increase in long-term inflation …