The Deutsche Bundesbank calculates the basic rate of interest pursuant to the German Civil Code and publishes its current level in the Federal Gazette.

The German economy grew last year despite inflation, the war in Ukraine and persistent supply problems. Price-adjusted gross domestic product (GDP) rose by 1.9%, according to initial calculations reported by the Federal Statistical Office. In calendar-adjusted terms, it found that economic growth amounted to 2.0%. “In 2022, the overall economic situation in Germany was affected by the consequences of the war in Ukraine and the extremely high energy price increases,” said Dr Ruth Brand, President of the Federal Statistical Office since 1 January 2023, at a press conference.