As a result of such corporate behavior, economic recovery is likely to remain moderate but at the same time excessive build-up of stocks is unlikely. The current economic recovery, which is already the third longest in the post-World War II period, is likely to be sustained for this reason. III.
On March 8, 1948, eleven men gathered next door in the building of the then Land Central Bank of Hesse. The Central Bank Council - which at that time was still “provisional” - of the Bank deutscher Länder, which had been established on March 1, was meeting for the first time.