Germany’s current account recorded a surplus of €14.8 billion in September 2022 and was thus up again significantly on the narrow result of €0.9 billion in the previous month.

The digital euro is not intended as a substitute for existing products, Bundesbank Executive Board member Burkhard Balz underscored at a joint Bundesbank-Oesterreichische Nationalbank conference where experts and central bankers discussed the usefulness of the digital euro for everyday payments and the financial markets. They also addressed potential challenges associated with its introduction.

Once a year, the Bundesbank invites guests from the spheres of politics, academia and society to the Capital City Reception in Berlin to exchange views on the economic situation and current topics. This year's event saw Bundesbank President Joachim Nagel welcome IMF Managing Director Kristalina Georgieva and author Constanze Stelzenmüller as special guests.

The strategy sets out in a binding manner how the Bundesbank intends to fulfil its mandate and forms the basis for its new steering model.

We could be on the verge of a global economic turning point, Bundesbank President Joachim Nagel said in an interview with the weekly newspaper “Die Zeit”. In this situation, we need more Europe, not less. Trump’s proposed trade tariffs could prove very painful for Germany. Should they be implemented, he said, we might even see negative economic growth next year. Mr Nagel considers European monetary policy to be on the right track.