Hoffmann, Mathias; Mönch, Emanuel; Pavlova, Lora; … - 2023
We study how households adjust their medium-term inflation expectations under the new ECB strategy. We find that survey … respondents make little difference between the previous strategy of targeting inflation rates close to but below 2% and the new … time, expect somewhat higher medium-term inflation. Respondents asked to assume inflation currently running below target …