The Federal Reserve’s date-based guidance issued in 2011 was of more “conventional” nature as it was used in the face of increasing downside risks to the economic outlook. For an overview, see Moessner, R., D. J. Jansen and J. de Haan (2017), “Communication About Future Policy Rates in Theory and Practice: A Survey”, Journal of Economic Surveys, Vol. 31, Issue 3, pp. 678–711.
Nor is the persistent spell of very low interest rates helping to remedy the German banking sector’s weak profitability – quite the contrary, in fact. Particularly for credit institutions with a heavily interest-driven business model, the ongoing low-interest-rate environment could pose  2  BIS central bankers’ speeches  a serious threat in the medium to long term.