2/5  BIS - Central bankers' speeches  For both these factors, survey data can help provide timely information. Before we turn our attention to the current findings, it is worth mentioning that inflation levels typically expected by households and firms tend to exceed those anticipated by professional forecasters, which are usually in line with the published figures.
•  Second, there are profound asymmetries in the international monetary system. On the one hand, floating exchange rates have prevailed among mature economy currencies since the collapse of the Bretton Woods system in 1971, a collapse which was also due to major imbalances in the global economy.