Second, medium- to long-term inflation expectations still appear to be rising on the whole from a somewhat longer-term perspective, judging from firms’ price-setting and households’ spending behavior, although market indicators and various surveys have been somewhat weak recently.
2 Monetary policy Ladies and gentlemen The economic setting differs in one essential aspect from the one we discussed at the last press conference on the annual accounts. In 2015, it was chiefly doubts about the cohesion of the euro area that kept members of the general public, policymakers and financial markets in thrall.