https://www.bundesbank.de/en/press/speeches/consistency-as-a-mandate-816296  4/9  11/29/2019  Consistency as a mandate | Deutsche Bundesbank  All things considered, the German ﬁnancial system has become more vulnerable to a scenario in which the economy experiences an unexpected downturn rather than simply treading water for a time, as is the case now.
What matters is that the inflation rate rises in balance with wages as the level of economic activity increases.