The April 2019 Monthly Report presents the results of the 2017 survey on household wealth and finances in Germany and analyses the interest rate pass-through in the low interest rate environment. It also contains an article outlining reform options for the European Stability and Growth Pact as well as an article describing how the Stability Council will monitor the German debt brake as of 2020.

The January 2019 edition of the Bundesbank’s Monthly Report looks into how a normalisation of interest rates will impact on balance sheets in the euro area’s private non-financial sector and explores price competitiveness in a number of euro area countries in terms of the development, drivers and influence of labour market reforms. The Report also features an analysis of financial cycles in the euro area and sheds light on International Financial Reporting Standard (IFRS) 9 from a banking supervision angle.