In these scenarios, the right-tail will not serve as an accurate leading indicator of generalised long-term inflation expectations. [3] Accordingly, the interpretation of right-tail measures is closely bound to the general analysis of the relative contribution of temporary and persistent forces in inflation dynamics. Finally, the meeting-by-meeting approach to monetary policy certainly poses communication challenges for central banks.
Mr. Tietmeyer discusses prospects and challenges for European integration in the run-up to EMU Speech by the President of the Deutsche Bundesbank, Prof. Hans Tietmeyer, on the occasion of the awarding of the Special Prize 1997 of the German-British Forum in London on 15/12/97 (slightly abridged). ... As Christmas is very close, I would like to quote David Marsh.