However, this development was halted briefly because labour force participation has grown strongly and more and more people have immigrated to Germany in the past few years to work here. This is the path for the future. There are labour force reserves, particularly among women and the elderly.
Given this situation, the Bank will continue to persistently pursue powerful monetary easing under the current "QQE with Yield Curve Control," thereby more firmly supporting the mechanism in which the virtuous cycle from income to spending continues to operate, with wages and prices increasing moderately.