If we communicate this successfully, there should ultimately be more public focus on the trends over time that are important to monetary policy and less reaction to near-term developments. Finally, the eight new fixed dates increase the number of opportunities for the Bank to communicate its views on the economy.
Similarly, the share of variable rate mortgages ranges from less than 20% in France and Germany to more than 80% in Luxembourg, the Netherlands, Portugal and Slovakia (see Ehrmann and Ziegelmeyer (2013)).