This change has been the result of several mutually reinforcing developments in policy making and economic thinking. In addition, the question of whether there should be changes to the ECB’s forward guidance is an important topic at the moment. 2.
Manfred J M Neumann But although I am aware that you have already commemorated Manfred, please allow me first to seize the opportunity to say a few more words about him. Like many of you, I owe a lot to Manfred.