Philipp Hartmann, Peter McAdam, 29 October 2018

The origins and implications of the low inflation dynamics that characterised the post-crisis recoveries in many advanced economies were at the heart of the ECB’s 2018 Sintra Forum on Central Banking. In this column, two of the organisers highlight some of the main points from the discussions, including why measured economic slack did not translate into more vivid price and wage growth, which role inflation expectations play in the conduct of monetary policy, as well as where the challenges lie in reconciling changes in micro price-setting with aggregate inflation dynamics.

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