Policy Article

Inflation expectations: quo vadis?


  • Joscha Beckmann
  • Klaus-Jürgen Gern
  • Nils Jannsen
  • Nils Sonnenberg
  • Ulrich Stolzenburg
Publication Date

Against the backdrop of the recent surge in inflation, we discuss available measures of inflation expectations and implications for monetary policy in the euro area. While long-term expectations are currently still in line with the ECB’s inflation target, the risk of a further rise increases should actual inflation remain high for an extended period of time. If expectations de-anchor the ECB may face difficult trade-offs.


Key Words

  • ECB
  • Euro area
  • inflation expectations
  • monetary policy