Firms’ short-term inflation expectations rose over the course of the first quarter of 2026, from 2.7 % in January to 3.2 % in March. The median also increased during this period, standing at 2.8 % in March 2026 (January: 2.5 %).

In addition to the regularly recurring questions on enterprise metrics, expectations and access to loans, the Bundesbank frequently asks enterprises questions on various current issues. A selection of the results is presented here.

The branches of the Bundesbank supply the economy with euro banknotes and coins, and offers private customers the opportunity to exchange D-Mark banknotes and coins free-of-charge and with no fixed deadline.

In Q1 2026, 18 % of firms expected a decline in their need for credit financing over the next 12 months, 3 percentage points more than in Q4 2025. The share of firms expecting an increase remained unchanged at 29 % compared with Q4 2025. In terms of short-term liquidity, 30 % of firms expected a decline, 1 percentage point more than in Q4 2025. The share of firms expecting their liquidity to increase was 17 %, 1 percentage point higher than in the previous quarter.

In the first quarter of 2026, a virtually unchanged share of firms as against the previous quarter reported that they had conducted loan negotiations in the respective quarter prior to the survey period (Q1 2026: 14.7 %, compared with Q4 2025: 14.6 %).

Das Direktorium der Europäischen Zentralbank (EZB) hat die leitenden Führungspositionen von drei Generaldirektionen der EZB neu besetzt. Roland Straub wurde zum Generaldirektor Geldpolitik, Christophe Kamps zum Generaldirektor Internationale und europäische Beziehungen und Petra Senkovic zur Generaldirektorin Rechtsdienste ernannt.