How seriously does it take certain things? How quickly will it actually want to see deficiencies corrected etc? And that is what the banks are preparing themselves for. And, finally, it also concerns the fact that banks are now going to have to do everything in English and not in German.
The first finds that wage pressures are subdued relative to historical experience, largely consistent with the existing slack in the labour market. The second focuses on structural factors that help explain recent movements in the prices of consumer energy products, food and services. Finally, as usual, we see a number of risks to our inflation outlook. We judge these risks to be roughly balanced.