As research on these factors is still in progress, the empirical evidence has not yet yielded conclusive results.2 I consider it important to fully take into account the effects of such changes in the economic structure on prices.
At the same time, we are all pleased that the Bank will be led by a highly esteemed and experienced colleague in future, too. Joachim Nagel is still very familiar to many at the Bank: Joachim, you already worked at the Bank from 1999 to 2016 – at almost every level, most recently, for six years as a member of the Executive Board.