This paper investigates the impact of ECB communication of its assessment of the economic outlook on ex-ante inflation … forecasts of inflation) but also makes forecasters less uncertain about their own beliefs, thus reducing ex-ante average … individual uncertainty. By combining and exploiting these types of ex-ante inflation uncertainty, results suggest that central …

We assess the relevance of the monetary policy of the ECB in the context of persistent inflation differentials among … adopted an appropriate monetary policy rule to prevent low inflation countries from a deflationary spiral, but that it did not … consider the negative effects induced as a consequence on the countries with a higher inflation rate. This raises the question …