Le Directoire de la Bundesbank a défini en 2015 une ligne directrice en matière d’environnement sur laquelle seront basées les actions de la banque.

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Mitarbeiter im technischen Gebäudebetrieb berichten über ihre Arbeit bei der Bundesbank.

16.10.2025

The Bundesbank’s latest Monthly Report shows that industry is continuing to suffer due to structural problems and raised US tariffs. In their analysis, the Bundesbank’s experts found that output, real sales and exports of goods declined in the third quarter. Moreover, the still low level of capacity utilisation in industry and weak competitiveness probably continued to weigh on investment activity. Meanwhile, private consumption is likely to have registered a slight increase, the authors write.

State and local government finances recorded a large deficit of €43 billion in 2024. Excluding one-off factors, this figure is considerably lower, but it is clear nonetheless that local governments, in particular, are bearing a substantial structural burden. They are unlikely to be able to balance their budgets on their own. The federal states share responsibility for this, and the Monthly Report sets out specific starting points. It also sheds light on the situation in individual federal states as well as the new financial leeway arising from the debt brake reform and the special fund. This leeway should be used specifically for additional investment.

15.10.2025 

The Bundesbank’s latest Monthly Report shows that increasing uncertainty has a major impact on investor behaviour and capital market dynamics. When uncertainty rises unexpectedly, investors tend to disproportionately reduce their exposure to emerging markets. Outflows from investment funds in relation to holdings are around three times higher than those from advanced economies, according to the Bundesbank’s experts.

Die Aufzeichnungen der einzelnen Veranstaltungsteile finden Sie in der Mediathek.

Häufig gestellte Fragen zu bilanziellen Risiken der Deutschen Bundesbank.