Up to the time of last August’s meeting, the post-Board statement for some months included language about the inflation outlook, as then assessed, providing “scope” to ease further should that be appropriate to support demand. At the May and August 2013 meetings the Board used some of that scope. Subsequent post-meeting statements did not include that phrasing.
Additionally, economic downturns that are accomSeite 8 von 27 Deutsche Bundesbank, Directorate General Communications Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany, Tel: +49 (0)69 9566 3511 or 3512, Fax: +49 (0)69 9566 3077 presse@bundesbank.de, www.bundesbank.de Reproduction permitted only if source is stated.