Recall that the Committee is currently projecting that it will keep interest rates extraordinarily low for at least six to seven quarters. The Committee could increase the level of accommodation in 2012 by changing the estimate of at least six to seven quarters to some longer period of time.
BIS Review 39/1998 ˝  -2-  Both prior to and after the signing of the (Maastricht) Treaty the Bundesbank has outlined in its statements what monetary union will mean for Germany (and for the other participating states).