The ECB Consumer Expectations Survey suggests that euro area consumer inflation expectations have reached a turning point. Median expectations for inflation three years ahead fell to 2.5% in January 2023, from 3.0% in the previous month. 8. Panetta, F. (2023), “Monetary policy after the energy shock”, op. cit. 9. Panetta, F. (2023), “Monetary policy after the energy shock”, op. cit. 10.
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