Their projections for next year put the rate of inflation at 1.1%, while the rate of inflation in 2016 is expected to be 1.4%. The projections are cautious even for Germany, where economic activity was brisk in the first half of the year and where the labour market is continuing to develop along favourable lines.
Apostle Paul in the Bible refers to it as a “race”, others as a “fight” while even others look at it as a “development process”. I will refer  BIS central bankers’ speeches  1  to our life’s journey as that of “mountain climbing”. Since the time we are born and up to the time we die, we continuously climb mountains.