Have market inflation expectations strengthened?
Kortela, Tomi (30.03.2017)
Volyymi
91Numero
1/2017Julkaisija
Bank of Finland
2017
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201703301224Tiivistelmä
Financial market inflation expectations are often measured by inflation swaps. Estimated on this basis, euro area inflation expectations have been increasing since autumn 2016. Interpretation of inflation swaps is not, however, straightforward. Closer scrutiny shows that market inflation expectations have strengthened by less than could be judged by examining mere swap prices.