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Market perception of monetary policy responsivenes
[La réactivité de la politique monétaire vue par les marchés]

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  • Jean Barthélemy

Abstract

The effectiveness of monetary policy in combating inflation depends on its ability to influence long-term interest rates, and therefore on the financial markets’ perception of the future response of monetary policy to inflation. This blog post analyses the perception of the markets and shows that the Eurosystem's commitment to fulfilling its price stability mandate has always stayed credible. L’efficacité de la politique monétaire à lutter contre l’inflation dépend de sa capacité à influencer les taux longs, et donc de la perception par les marchés financiers de la future réponse de la politique monétaire à l’inflation. Ce billet analyse cette perception et montre que l’engagement de l’Eurosytème à remplir son mandat de stabilité des prix est toujours resté crédible.

Suggested Citation

  • Jean Barthélemy, . "Market perception of monetary policy responsivenes [La réactivité de la politique monétaire vue par les marchés]," Eco Notepad (in progress), Banque de France.
    • Handle: RePEc:bfr:econot:359
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