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Holding one’s own in a changed world Speech at the “Frankfurter Impulse” event hosted by FPS Law
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Introductory statement at the press conference presenting the Annual Report 2025
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German balance of payments in March 2026
Germany’s current account recorded a surplus of €23.6 billion in March 2026. This was €3.1 billion up on the previous month’s level. The goods account surplus decreased, but the surplus in invisible current transactions, which comprise services as well as primary and secondary income, increased more strongly.
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Price competitiveness
The same methodology as the real effective exchange rates of the euro is used to calculate price competitiveness indicators for individual euro area countries.
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Bundesbank Monthly Report: Comparison of energy crises in 2021/22 and 2026
22.05.2026 DE
The war in Iran and the blockade of the Strait of Hormuz have shaken global energy markets and evoked memories of 2022, when Russia’s attack on Ukraine significantly exacerbated the energy crisis of 2021/22. In the current issue of the Monthly Report, Bundesbank experts examine both crises and show that while there are parallels there are also significant differences.
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“Better times are coming, not only for German football, but also for the German economy” Interview with Delo
In an interview with the Slovenian newspaper Delo, Bundesbank President Joachim Nagel expresses optimism about Germany's economic future and discusses current monetary policy challenges and the digital euro.
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Outlook for 2026 in the light of multifaceted challenges worldwide Speech held at the Ambassadors Club e.V. Lunch Jour Fixe
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Legal basis
Statutory basis, implementation provisions, Bundesbank notices and circulars