95th East Jour Fixe of the Oesterreichische Nationalbank

From inflation dynamics to expectations: Bridging the gap between data and policy

Conference aspects
Persistent inflation and heightened macroeconomic uncertainty are placing renewed pressure on policymakers, especially in small open economies in the EU and EU candidates and potential candidates where external shocks are transmitted quickly and often asymmetrically. Understanding how households perceive inflation, form expectations, and interpret the role of central banks has become essential for effective policy design and communication, given that inflation in small open economies reflects a mix of external shocks and domestic drivers, and that household expectations themselves can amplify or sustain price dynamics. Yet evidence gaps remain: inflation expectations often diverge from expert forecasts, while the level of financial literacy affects the savings and consumption patterns to the point which in turn shapes perceptions of central bank effectiveness. These gaps can weaken monetary policy transmission, complicate stabilization efforts, and create challenges for central banks to meet their objectives. By linking macroeconomic analysis with micro‑level evidence, this workshop addresses these challenges by bringing together economists, survey specialists, and policy practitioners to examine how inflation dynamics, expectations, and financial understanding interact.

Date
Tuesday, 29 September 2026 | 9:30–16:30 CEST

Venue
Oesterreichische Nationalbank, Kassensaal
Otto-Wagner-Platz 3, 1090 Vienna
or online via Webex