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ECB keeps rates unchanged
05.02.2026 DE
The Governing Council today decided to keep the three key ECB interest rates unchanged. Its updated assessment reconfirms that inflation should stabilise at its 2 % target in the medium term.
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Bundesbank: risks to the German financial system have increased Financial Stability Review 2025 sees challenges from geopolitical tensions, trade conflicts and rising government debt
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European monetary policy in times of high uncertainty Lecture at ZEW – Leibniz Centre for European Economic Research
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The German economy: navigating cyclical fluctuations and boosting long-term growth Eesti Pank Public Lecture
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Methodological notes
Here you will find general information on the balance of payments as well as the international standards on which the concept and methodology of the German balance of payments are based.
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Sign of the lily Gold florin of Florence
Constans was the youngest son of Constantin I the Great. He was only a boy when his father accorded him the rank of Caesar (emperor-designate). With the death of Constantin I in 337, his three sons Constantin II, Constantius II and Constans adopted the title of Augustus and divided the empire amongst themselves.
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Methodology and quality External sector
on the subject of External sector
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German economy suffers setback in the second quarter
21.08.2025 DE
According to the Federal Statistical Office’s flash estimate, seasonally adjusted real gross domestic product (GDP) recorded a quarter-on-quarter decline of 0.1 % in the second quarter, after still rising markedly in the previous two quarters. The Monthly Report states that after US tariffs were raised in April, industrial output and exports recorded a fall-off. While private consumption benefited from a sharp rise in wages, the labour market remained too weak to generate stronger momentum. The inflation rate fell distinctly in the second quarter.
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Adapting to a changing world: monetary policy, structural reforms and digitalisation Keynote speech at the Frankfurt School & OMFIF seminar “The European and international monetary and financial landscape”