As of 2026, eligible counterparties are expeted to participate in a main or longer-term refinancing operation at least once a year in order to demonstrate ther operational readiness.

Um seine geldpolitischen Ziele zu erreichen, stehen dem Eurosystem verschiedene geldpolitische Instrumente zur Verfügung. Dazu gehören die Offenmarktgeschäfte, die die Deutsche Bundesbank im Rahmen ihrer Zuständigkeit mit Geschäftspartnern durchführt, die in Deutschland niedergelassen oder ansässig sind.

Below we provide a selection of all relevant customer information letters, guidance notices and other information on the MACCs procedure.

on the topic of Corporate financial statements

The average inflation expectations of individuals in Germany for the next 12 months decreased slightly in November, to 2.9 %. In response to a qualitative question on inflation rate developments, the share of households expecting inflation rates to rise during this period declined by 7 percentage points on the previous month to 52 %. Average expectations for inflation three years ahead rose to 3.4 % in November (October: 3.2 %). By contrast, expectations for the average over the next five years remained unchanged, at 3.4 % (October: 3.4 %).

The German economy will make headway again in 2026: while progress will be subdued initially, it will then slowly pick up, said Bundesbank President Joachim Nagel, presenting the Bundesbank’s new Forecast for Germany. According to the forecast, economic growth is being driven mainly by government spending and a resurgence in exports. The experts are expecting GDP growth in 2027 and 2028 as well.

Im September 2025 wies die Leistungsbilanz einen Überschuss von 23 Mrd € auf (nach 22 Mrd € im Vormonat).

Negotiated wages rose sharply in October again. Special effects are fa ding.