The Bundesbank is freezing the expectations of the European Central Bank and its "forward guidance" strategy (which consists in indicating that rates will remain low "for an extended period"). The August monthly bulletin of the German Central Bank explained that the new approach to monetary policy ""does not rule out an increase in official rates if higher inflationary pressures emerge".
“It is important to note – continues the bulletin – that that sentence is conditioned by the unchanged obligation to guarantee price stability. Therefore, forward guidance on the euro does not represent an unconditional promise on the future path of official rates”.
