Thereafter, assuming that medium- to long-term inflation expectations remain stable, the rate of change is likely to gradually turn positive as the negative output gap narrows. In its forecast released in January 2012, the Bank projected the year-on-year rate of increase in the CPI (all items less fresh food) to be 0.1 percent for fiscal 2012 and 0.5 percent for fiscal 2013.
By the  BIS central bankers’ speeches  1  way, this was quite a good investment: Between 1818 and 1827, when Beethoven died, he earned something between 15% and 20% per year on his investment. The Nationalbank was not only financially successful for its shareholders; it also succeeded in stabilizing the value of the Austrian florin in terms of silver.