The Bank of England’s success in achieving its monetary policy objectives will depend, in part, on the public’s awareness and understanding of monetary policy. Results from the Bank/GfK NOP survey suggest that public awareness of the policy framework remains high and has changed little over...

Inflation expectations play an important role in the transmission mechanism of monetary policy. There is a risk that the periods of above-target CPI inflation in the past three years might cause inflation expectations to drift upwards. That might make inflation itself more persistent, via...

Inflation has been volatile in the past three years. This article examines how that has affected households’ attitudes to inflation and to monetary policy more generally. Some of the volatility in inflation has fed through to households’ perceptions of inflation, as measured by the Bank/GfK...