• Are expectations important for the outlook of the economy?
• From the description in the report, how do you think agents form expectations?
• Are expectations dependent on uncertainty?
• Can the fan chart be thought of as a device that the central bank uses to form expectations?
• What is the systematic relationship between wage growth and the unemployment rate?
• What does this relationship imply for the co-movement between inflation and output?
• Why is survey data important in the assessment of the economy?
• What is the potential output and why is it relevant for monetary policy?