Our latest, unanimous decision ensures that the necessary monetary policy support remains in place. This support has a number of elements, including the net asset purchases until the end of 4/6  BIS central bankers' speeches  the year, the sizeable stock of acquired assets and the associated reinvestments, and our enhanced forward guidance on the key ECB interest rates.
And, despite its ability to predict recent growth rates reasonably well, a dynamic simulation of such a model starting in 2000 indicates that the current level of investment is still considerably lower than expected. To be sure, we would not have expected investment to snap back right away, judging from experience.