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Slowdown in economic growth in Germany

In the Bundesbank's estimation, the economic upsurge distinctly lost momentum in the first two months of the spring quarter. As explained in the July Monthly Report, Bundesbank economists are expecting real GDP to remain at the previous quarter's level in the second quarter.


Dr Andreas Dombret holding a speech at the bundesbank symposium © Artur Worobiow

Dombret: "As simple as possible, as complex as necessary"

Representatives from the banking sector and regulatory authorities attended a Deutsche Bundesbank symposium to discuss the latest developments in the world of banking supervision. Bundesbank Executive Board Member Andreas Dombret presented the principles of sound regulation and good supervision to industry representatives and supervisors.


Andreas Dombret, Masaaki Shirakawa, Hans Carl von Werthern © Shion Saito

Knight Commander's Cross awarded to former governor of Bank of Japan

The former governor of the Bank of Japan, Masaaki Shirakawa, has been awarded the Knight Commander's Cross (Badge and Star) of the Order of Merit of the Federal Republic of Germany. Bundesbank Executive Board Member Andreas Dombret was among the speakers at the ceremony in Japan.


Dr Joachim Nagel

Nagel: renminbi investment quota important addition to clearing bank

The Bundesbank welcomes China's decision to allocate an investment quota of CNY 80 billion to Germany. This quota allows institutional investors from Germany to invest directly on the Chinese capital market. Bundesbank Executive Board member Joachim Nagel sees this as a further milestone on the road towards creating a renminbi trading centre in Frankfurt.


Turalay Kenç (Deputy Governor Central Bank of the Republic of Turkey) and Andreas Dombret (Member of the Executive Board of the Deutsche Bundesbank) © Mehmet Erken

Dombret warns against reform fatigue

Speaking in Istanbul, Andreas Dombret, member of the Executive Board of the Deutsche Bundesbank, named reform fatigue and complacency as the current biggest threats to the stability of the banking and financial system. He was attending an expert seminar for representatives of the Central Bank of the Republic of Turkey and the Deutsche Bundesbank to learn from each other's experiences.


Picture shows a meeting of the Governing council of the ECB

ECB Governing Council in future to deliberate every six weeks on monetary policy

The Governing Council of the European Central Bank (ECB) has decided to lengthen the interval between its monetary policy meetings. From the beginning of 2015, it will hold the meetings at which it takes its monetary policy decisions every six weeks. The ECB also intends to publish accounts of its meetings in future. At the meeting on 3 July, members of the Governing Council also agreed on further specifics of the targeted longer-term refinancing operations (TLTROs).


Dr Jens Weidmann

Germany's economic policy needs to continue to set an example

Bundesbank President Jens Weidmann has criticised the "full pension at 63" as well as the introduction of the statutory minimum wage. Speaking at the Economic Conference of the Economic Council of the Christian Democratic Union (CDU) in Berlin, Mr Weidmann also stressed how important it was for Germany's economic policy to set an example in Europe. The Bundesbank President furthermore encouraged the countries hit particularly hard by the crisis to press ahead with their reform efforts.


Foto zeigt  Jaime Caruana (BIZ) © Nelson Ching / Getty Images

BIS calls for an end of debt-driven growth

The Bank for International Settlements (BIS) has called upon policymakers to implement targeted measures to restore sustainable economic growth. According to the latest Annual Report of the "central bankers' bank", it was essential to move away from debt as the main engine of growth. In addition, the BIS highlighted the risk of monetary policy "normalising too late and too gradually".


Dr. Jens Weidmann and Dr. Wolfgang Schäuble

Germany takes over G7 presidency

1 July 2014 sees Germany taking over the presidency of the gatherings of the G7, the seven most advanced industrial countries in the world. Until the end of 2015, the sessions of the G7 finance ministers and central bank governors will be chaired by Bundesbank President Jens Weidmann and Federal Finance Minister Wolfgang Schäuble.



Nothing new about negative real interest rates on deposits

Today’s low interest rates are making it difficult for investors to preserve the value of their assets. After all, if the interest received is lower than the rate of inflation, the value of an investment will diminish over time. However, this state of affairs – a negative real interest rate on deposits – is by no means a new phenomenon that is unique to the prevailing low-interest-rate environment. As it happens, negative real rates of interest have been the norm, rather than the exception, over recent decades.


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