Households’ financial assets fell by €98 billion in the second quarter of 2022 and thus for the second time in succession. At the end of the quarter they stood at €7,496 billion.

Bundesbank President Joachim Nagel has come out in favour of further significant interest rate steps. Speaking at a joint press conference with Federal Finance Minister Christian Lindner ahead of the Annual Meeting of the International Monetary Fund (IMF), Dr Nagel said that the latest inflation data argue in favour of the Eurosystem taking a further “robust” interest rate step at its next monetary policy meeting.

The G7 finance ministers and central bank governors have adopted fundamental elements for third party risk management and for penetration testing to further promote cybersecurity in the financial sector.

Germany’s current account recorded a surplus of only €0.6 billion in August 2022, down €4.8 billion on the previous month’s level. This was due to a decrease in the goods account surplus. The deficit on invisible current transactions, which comprise services as well as primary and secondary income, changed only slightly.