The euro area’s 330 million or so citizens are now benefiting from the fact that the currency in their wallets is as solid as the Deutsche Mark used to be (“so hart wie die D-Mark”). The euro – a stable currency The euro is just as strong as the most stable of its predecessors. The ECB has ensured price stability in the euro area.
In summary, we noted that the economic recovery has strengthened over recent months. At the same time, we have also witnessed stronger inflationary pressures over the short term. Nevertheless, we are still of the view that the medium-term outlook remains in line with price stability. Accordingly, we left the key ECB interest rates unchanged.