Public Attitudes to Inflation and Monetary Policy

9 Pages Posted: 17 Jun 2009

See all articles by Alina Barnett

Alina Barnett

Bank of England

Ozlem Oomen

Bank of England

Venetia Bell

Bank of England

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Abstract

According to the Bank/GfK NOP survey, near-term inflation expectations have fallen markedly over the past year from elevated levels. In part, that may have reflected a reduction in households’ perceptions of current inflation. But it is also likely to have reflected weaker demand prospects. Longer-term measures of inflation expectations were a little higher in May than in February. Households’ perceptions of the current level of interest rates have fallen, as both borrowing and saving rates have declined. Households report that they expect interest rates to rise over the year ahead. The net balance of respondents satisfied with the performance of the Bank has fallen over the past year. That may reflect concerns about the economic outlook and the financial crisis.

Suggested Citation

Barnett, Alina and Oomen, Ozlem and Bell, Venetia, Public Attitudes to Inflation and Monetary Policy. Bank of England Quarterly Bulletin, Q2, 2009, Available at SSRN: https://ssrn.com/abstract=1420049

Alina Barnett

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Ozlem Oomen

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

Venetia Bell (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

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