Real interest rates are interest rates that have been adjusted for developments in purchasing power. They are broadly calculated as the difference between the nominal interest rate and the inflation rate (in the case of low interest rates and relatively stable prices).

Gabriele works as a translator in the language service of the Deutsche Bundesbank and has a congenital visual impairment. She mainly translates the ECB's publications, but also documents from the Bundesbank's various areas of responsibility. 

Germany’s current account recorded a surplus of €30.8 billion in November 2023, up €10.8 billion on the previous month’s level. This was primarily caused by the shift into a surplus in invisible current transactions, which comprise services as well as primary and secondary income. Moreover, the surplus in the goods account increased.

Eigentumswohnung

Das Emissionsvolumen am deutschen Rentenmarkt belief sich im November 2023 auf brutto 123,6 Mrd € (Vormonat: 130,3 Mrd €). Nach Abzug der im Vergleich zum Vormonat geringeren Tilgungen und unter Berücksichtigung der Eigenbestandsveränderungen der Emittenten stieg der Umlauf heimischer Rentenwerte um 18,1 Mrd €.