Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/311842 
Year of Publication: 
2024
Series/Report no.: 
Deutsche Bundesbank Discussion Paper No. 43/2024
Publisher: 
Deutsche Bundesbank, Frankfurt a. M.
Abstract: 
As central banks, including the European Central Bank (ECB), adopt climaterelated responsibilities, gauging public support becomes essential. Drawing on a June 2023 Bundesbank household survey, we find that 69% of households report increased trust in the ECB due to its climate actions, valuing the institution's broader scope and concern. While 17% and 20% of households express concerns over risks to price stability or independence, 23% believe climate engagement reinforces the ECB's core objectives. An information intervention indicates minimal impact on household inflation expectations, suggesting a disconnect between institutional trust and inflation outlooks. An internal survey reveals that central bankers accurately gauge trust impacts but tend to overestimate effects on inflation expectations. Overall, our findings indicate broad public support for the ECB's climate initiatives.
Subjects: 
Central bank trust
central bank credibility
inflation expectations
climate change
green policies
survey
central bank communication
uncertainty
JEL: 
E7
E59
C93
D84
ISBN: 
978-3-98848-018-7
Document Type: 
Working Paper

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