Economics, Econometrics and Finance
4 years ago

Financial crisis and low inflation reshape inflation expectations in Poland.

Bank i Kredyt
Financial crisis, low inflation environment and short-term inflation expectations in Poland
Tomasz Łyziak

Paper Summary

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The article examines how the financial crisis and low inflation in Poland have affected inflation expectations. By analyzing surveys of consumers, businesses, and financial analysts, the researchers found that since 2008, businesses and analysts have become better at predicting inflation. They now pay more attention to interest rates and the economy. However, businesses' expectations are less influenced by the inflation target, and more by current inflation. Consumer expectations have not changed much.