Geraats, Petra M. - Directorate-General Economic and Financial Affairs, … - 2008
-making. During the ECB's first decade, average inflation in the euro area has been low, but it has failed to meet the ECB's criterion of … inflation expectations in the euro area, which have even reached over 2%, and the credibility of the ECB achieving price … term inflation expectations are negatively affected by the inflation experience of the euro area. However, this paper …