Despite the decline in inflation, long-run inflation expectations have remained stable; for example, the rate of inflation that households expect over the next 5 to 10 years, as measured by the Thompson Reuters/University of Michigan Surveys of Consumers, has remained in a narrow range over the past few years.
Some of you will have participated in previous FSAPs, and you know that when the assessment teams come to visit, they will interview a sample of financial institutions, to have your views.