Producing and revealing inflation forecasts is believed to be the best way of implementing a forward-looking monetary policy. The article focuses on inflation forecast targeting (IFT) at the Czech National Bank (CNB) in terms of its efficiency in shaping consumers' inflation expectations. The...

Modern monetary policy should be expectations-oriented. The best way to influence expectations operationally is to use inflation forecasts. As different ways of revealing central bank's intentions exist, a simple research question arises. Does the forward-looking (FL) component of consumers'...

This article jointly analyzes inflation expectations of consumers and inflation forecasts. Its starting point is the predominant role of expectations in monetary policy. This is crucial market information in the decision-making process of the central bankers as it may show the actual future...