Author: Ronnie Driver Publisher: ISBN: Category : Languages : en Pages : 10
Book Description
A key upside risk to the medium-term outlook for inflation stems from the possibility that a further period of above-target inflation could lead to persistently elevated inflation expectations. According to the Bank/GfK NOP survey, households' expectations for inflation over the next year have risen markedly. This article focuses on the factors which may have driven the increase, drawing on the results of some additional questions included in the February 2008 survey. It concludes that while the latest increases in households' inflation expectations could be consistent with recent macroeconomic data, increases in households' perceptions of current inflation may also have played some role. The article also summarises the public's attitudes to interest rates and the conduct of monetary policy.
Author: Richard Windram Publisher: ISBN: Category : Languages : en Pages : 17
Book Description
Since 2001, the Bank of England has published an annual article discussing the results from the survey of public attitudes to inflation carried out by GfK NOP on behalf of the Bank. This article analyses the results of surveys up to February 2007. Given the relevance of inflation expectations to the current inflation outlook, this year's article focuses on the pickup in the general public's inflation expectations between 2005 and 2006, and the factors that may have contributed to that rise. It also considers the interactions with the public's attitudes to interest rates. Responses to other questions in the survey are discussed in the annex.
Author: Andrew Wardlow Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Since November 1999 the market research agency NOP has carried out quarterly and annual surveys of public attitudes to inflation, on behalf of the Bank of England. As part of an annual series, this article analyses the results of the surveys from May 2003 to February 2004. Public opinion on most issues has changed little over the past year. Around one in five people thought retail price inflation had been between 2% and 3% over the past year and a similar proportion expected price increases in that range. Both in November and February, a large majority of respondents expected interest rates to rise over the next year, though nearly 40% thought the economy would fare best if rates stayed where they were. Just over half the sample population remained satisfied with the way the Bank is setting interest rates.
Author: Lewis Kirkham Publisher: ISBN: Category : Languages : en Pages : 4
Book Description
Satisfaction with the way the Bank sets interest rates in order to control inflation has picked up in the past year to the highest level since 2007, according to the latest Bank/GfK NOP surveys. This is likely to reflect falls in households' perceptions of inflation, as well as the general improvement in the economic outlook. Households expect increases in Bank Rate to be gradual, which seems consistent with recent guidance from the Monetary Policy Committee. Over the past year public awareness of the monetary policy framework has remained unchanged and public support for the inflation target has remained strong.
Author: Colin Ellis Publisher: ISBN: Category : Languages : en Pages : 9
Book Description
Over the past six and a half years, GfK NOP has carried out surveys of public attitudes to inflation on behalf of the Bank of England. As part of an annual series, this article analyses the results of the surveys from May 2005 to February 2006. Public perceptions of past and future inflation picked up recently, while most people thought interest rates had risen over the past year. Public understanding about the monetary policy framework remained limited, but people were generally satisfied with the way the Bank has been setting interest rates.
Author: Michael Goldby Publisher: ISBN: Category : Languages : en Pages : 4
Book Description
This article examines the latest results from the Bank/GfK NOP survey concerning households' awareness and understanding of monetary policy, and their satisfaction with the way the Bank is conducting monetary policy. Results from the latest surveys indicate that public awareness of the policy framework has remained broadly constant over the past year at a reasonably high level. Satisfaction with the way the Bank sets interest rates in order to control inflation remains much lower than before the financial crisis. While remaining positive over the past year, net satisfaction fell to a series low in 2012 Q3, before recovering a little in subsequent surveys. The extent of satisfaction with the Bank has moved closely with changes in consumer confidence, which in turn is linked to a range of macroeconomic variables including GDP growth, inflation and unemployment.
Author: Colin Ellis Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Over the past five and a half years, NOP has carried out surveys of public attitudes to inflation on behalf of the Bank of England. As part of an annual series, this article analyzes the results of the surveys from May 2004 to February 2005. Public opinion on most issues has changed little over the past year. One in five people - the largest group - thought inflation had been between 2% and 3%, and a similar proportion expected price increases in that range over the next twelve months. In February, a majority of respondents expected interest rates to rise over the next year, but that was a smaller proportion than a year ago. Around 40% of people thought the economy would fare best if interest rates remained unchanged, and over half of the sample was satisfied with the way the Bank is setting rates. But there remained a lack of understanding about monetary policy in some demographic groups.
Author: Peter J. N. Sinclair Publisher: Routledge ISBN: 1135179778 Category : Business & Economics Languages : en Pages : 402
Book Description
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Author: Kenneth Scheve Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This article analyses public opinion in advanced economies to assess what individual citizens think about inflation. Opinion surveys suggest that the general public is inflation averse, but that there is significant variation across countries and over time. Evidence is presented that average inflation aversion is sensitive to factors affecting the expected costs of inflation.
Author: Andrew Wardlow Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
As part of a new regular series, the market research agency NOP undertook a survey of public attitudes to inflation for the Bank of England in February. The results show that, given a choice between higher interest rates or higher inflation, four times as many people would prefer interest rates to go up, rather than prices. Other results suggest that most people are aware that the Bank, rather than the Government, now sets interest rates. 55% are satisfied with the way the Bank is doing its job; just 10% are dissatisfied. Most people are aware that inflation is low, but only one in three knows that it is currently between 1% and 3%. However, very few expect inflation to rise sharply in the year ahead.
Author: Ronnie Driver
Author: Richard Windram
Author: Andrew Wardlow
Author: Lewis Kirkham
Author: Colin Ellis
Author: Michael Goldby
Author: Colin Ellis
Author: Peter J. N. Sinclair
Author: Kenneth Scheve
Author: Andrew Wardlow