Do Europeans like their central bank conservative? Evidence from the communication about the 2022 hikes

Maqsood Aslam, Etienne Farvaque, Kokouvi Kada-Sedode and Piotr Stanek

Chapter 5 in Are Central Banks Still Conservative?, 2025, pp 115-130 from Edward Elgar Publishing

Abstract: The answer is YES. We make use of the Eurobarometer survey data to study the evolution of trust by nonexperts in the European Central Bank (ECB) since it started a round of communication about its interest rate hikes in 2022. We consider how trust evolves between the period before the ECB started communicating about the possibility of raising rates and after it effectively increased its policy rate. We compare the reaction of European public opinion during this episode with another outstanding situation—that is, the Covid-19 policy package. Our findings suggest that Europeans appreciate their central bank more when it is overtly conservative.

Keywords: European Central Bank; Trust; Interest rate hikes (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035337569
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