Inflation expectations of the population as an indicator of trust to monetary authorities
Keywords:
monetary authorities, inflation expectations of the population, inflation perceptions of the population, inflation, consumer price index, trust, index of trust in monetary authorities, index of trust in the central bank, transparencyAbstract
This article visualizes and analyzes inflation trends in the Republic of Belarus. The author provides an overview of the regulator's achievement of inflation targets, inflation dynamics, and inflation expectations and perceptions of Belarusian citizens. It is clear that inflation expectations and perceptions of Belarusians are traditionally high, signaling the need and potential for increasing trust in the monetary authorities in Belarus. The author proposes an index of consistency between inflation expectations, inflation perceptions, and the central bank's inflation policy. The index data show that the average proxy level of trust in the regulator in the country has remained in the average range since 2020. Transparency of its operations and a well-thought-out communication policy are essential in efforts to increase public trust in the central bank.
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