Policy challenges in an unprecedented recovery Fundamental to modern thinking on central banking is the idea that monetary policy is more effective when the public better understands and anticipates how the central bank will respond to evolving economic conditions.
When asked about future inflation, women place a greater focus on perceived food price inflation than men, who care more about the price developments of transportation  2/3  BIS - Central bankers' speeches  and housing.5 While central bankers -are generally aware of this "gender expectations gap", ECB staff – in a recent blog – pointed to a need to gain a better understanding of how consumers form and update their inflation expectations.