(pages) 27-42. 8. Deutsche Bundesbank (2018), Lower bound, inflation target and the anchoring of inflation expectations, Monthly Report, June 2018, pp. (pages) 31-50. 9. Deutsche Bundesbank (2018), The importance of bank profitability and bank capital for monetary policy, Monthly Report, January 2018, pp. (pages) 27-52. 10.
We will be looking closely at all the influences on inflation over the coming year – including the demand pressures in the economy, the growth of wages, and the level of the exchange rate – in order to judge how they will collectively influence the outlook. Monetary policy will then be set accordingly.