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Weidmann: new inflation target not a dramatic change of course

24.07.2021

From the point of view of Bundesbank President Jens Weidmann, the ECB’s new inflation target of 2 percent is neither a move towards significantly higher inflation rates nor a dramatic change of course. He does not see central banks as having the type of influence over the economic process that would enable them to steer inflation rates with pinpoint accuracy to the nearest decimal place. “That’s why a slight, temporary overshooting of the 2 percent target is just as unavoidable as a slight, temporary undershooting”, he said in an interview with the German daily newspaper Frankfurter Allgemeine Zeitung. “This isn’t a problem, and is something we agreed on as part of the strategy”, noted Mr Weidmann.

"Inflation rates going in the direction of 5%"
Jens Weidmann during an interview
Robust recovery in the German economy

19.07.2021

German economic activity likely grew strongly in the second quarter, largely offsetting the severe setback it suffered in the first quarter, the Bundesbank writes in its current Monthly Report. The services sector in particular contributed to the considerable recovery. Inflation is likely to rise as the year progresses.

Robust recovery in the German economy
Beer garden with guests
Monthly Report: Digital risks on the rise in the banking sector

20.07.2021

The digital transformation is increasingly putting German banks to the test. As this unfolds, it is important to not lose sight of security, particularly with banks becoming a growing target for professional hackers, the Bundesbank’s economists write in the latest issue of the Monthly Report. They warn that technology alone is not enough to stay ahead of digital risks.

Monthly Report: Digital risks on the rise in the banking sector
A man works in an IT data centre
Weidmann: New strategy will help monetary policy maintain price stability

09.07.2021

Bundesbank President Jens Weidmann believes the new strategy will help monetary policy maintain price stability for the people of the euro area. “A medium-term inflation rate of 2% is a clear and easily understandable objective. We are not striving for either lower or higher rates. That was important to me,” was how Mr Weidmann assessed the outcome of the strategy review.

Weidmann: New strategy will help monetary policy maintain price stability
Jens Weidmann
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