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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”
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MiDi-based research publications
A list of publications which are based on direct investment micro data (MiDi).
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Recent publications
Selected papers by Bundesbank researchers accepted for publication or recently published.
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The Bundesbank’s forecast for Germany: Economic recovery slowly getting started US tariffs initially weigh on economic growth; fiscal policy provides impetus from 2026
The recovery of the German economy is being delayed by uncertainty surrounding international trade policy. Only gradually will economic activity be boosted by fiscal measures. The German economy will continue to tread water in the current year.
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German balance of payments in August 2025
Germany’s current account recorded a surplus of €8.3 billion in August 2025, down €7.3 billion on the previous month’s level. This was mainly caused by the smaller surplus in the goods account and the shift to a deficit in invisible current transactions, which comprise services as well as primary and secondary income.
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The German economy in choppy international waters Speech at the Speaker’s Luncheon, Union International Club e. V.