Latest Buba monthly report
Expects a sharp slowdown in the German economy in Q2 before rebounding in the second half of the year
Volatile 1st half disguises robust fundamentals
ECB must normalise as soon as inflation is on track
Undesired effects of QE increase with its duration
Fiscal policy and financial stability mustn't slow normalisation
If inflation gets to 1.5% the Germans will come out all guns blazing about tightening monetary policy.
