A field experiment indicates that direct communication with ECB visitors better anchors their inflation expectations. As Alexander Jung, Francesco Paolo Mongelli and Christian Scherf show, visitors with little knowledge of monetary policy are particularly likely to align their expectations with the ECB’s inflation target after speaking to central bankers.

The original post was published on 16 September 2025.
www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250916~23a41f157c.en.html

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ECB visitors – can direct communication alter inflation expectations?

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