With this scientific study on the expectations of firms in Germany, the Research Centre of the Deutsche Bundesbank wants to gain an understanding of the current situation.

The total number of credit institutions in Germany (including legally dependent building and loan associations) fell by a net figure of 55 throughout the year, from 1,458 to 1,403 institutions. While the consolidation process had been subdued, especially as of 2008, it has tended to pick up pace again since 2016 – partly due to idiosyncratic factors: the coronavirus crisis, the entry into force of Brexit and the introduction of the Investment Institutions Act (Wertpapierinstitutsgesetz).

Die auf die Publikation "Mein Euro Spiel- und Rechengeld" abgestimmten Arbeitsblätter unterstützen Kinder dabei, das Aussehen und den Wert der Euro-Münzen und Euro-Banknoten sowie die Euro-Länder kennenzulernen.

The Bundesbank and Banque de France Spring Conference on monetary policy and the expectations of households and firms toke place on 23 and 24 June. The event was centred around speeches by French central bank governor François Villeroy de Galhau and Bundesbank President Joachim Nagel. 

Ein Überblick über den methodischen Rahmen der Erhebung.
(in englischer Sprache)

The Bundesbank assumes that the economy will grow by 1.9% this year. “The economic recovery is therefore likely to continue, but at a much more subdued pace than projected last December,” according to the current edition of the experts’ semi-annual projection. The annual average inflation rate for 2022 is set to rise to 7.1%.

This article studies the impact of a digital euro on financial stability. Our survey findings indicate that German households are open to the digital euro – suggesting they perceive that there are benefits to accessing a central bank digital currency. However, demand for the digital euro raises concerns about strong outflows of deposits from the banking sector, with potential implications for financial stability. We study this issue in a new macroeconomic model and conclude that the digital euro – if complemented with an appropriate holding limit, i.e. the maximum digital euro amount that an individual is permitted to hold – can actually strengthen financial stability and improve welfare.