The same is also true of the savings bank sector. Savings banks have a clear buffer over and above supervisory requirements. They are therefore well equipped to weather bad times. 5 Inflation and monetary policy Developments in inflation over the past year have demonstrated just how quickly times can change.
After decades in which inflation rates were quite predominantly low, even too low for a time, the inflation curve picked up significantly in the summer of 2021. This increase was initially thought to be temporary, but has continued month after month and has become increasingly broad based.