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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: 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: 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: 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: 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: 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: 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: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498344062 Category : Business & Economics Languages : en Pages : 74
Book Description
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author: Bernd Hayo Publisher: ISBN: Category : Languages : en Pages : 25
Book Description
Employing unique representative survey data from New Zealand collected in 2016, we study public knowledge about and attitude towards a specific monetary policy institution, the Policy Target Agreement (PTA). The PTA contains the inflation target for the Reserve Bank of New Zealand (RBNZ). First, we assess how much the population knows about the PTA, finding the level of knowledge to below. Second, we ask whether our respondents support a clause in the PTA that allows the government to over-ride the RBNZ if it deems it necessary. We interpret responses to that question as attitudes towards central bank independence (CBI). The population does not appear to have a clear view on whether or not to expand CBI, as roughly one third supports the overriding clause in the PTA, one third is against it, and one third is unsure. Using logit regression, we study which characteristics make people favour more CBI. Subjective and objective knowledge about the RBNZ and monetary policy increases support for CBI, whereas voting for a national-oriented party and trusting the government reduces it. Policy implications are derived from our findings.
Author: Michael Goldby
Author: Michael Goldby
Author: Lewis Kirkham
Author: Peter J. N. Sinclair
Author: Ronnie Driver
Author: Colin Ellis
Author: Colin Ellis
Author: Louis Harris and Associates
Author: International Monetary Fund
Author: Jane Dokko
Author: Bernd Hayo