The Bundesbank’s greenhouse gas emissions came in at around 13,676 tonnes of CO2 equivalents in 2021, which corresponds to a reduction of just over 52.3% compared with the 2013/14 base value (28,650 t). As in 2020, the restrictions on public life caused by the coronavirus pandemic resulted in reduced emissions in 2021 as well. This was because business travel were still very low and reductions were made in heat consumption.

Fotos vom Museumsuferfest

Implementing a minimum exchange rate regime by buying foreign currency eases monetary conditions domestically and may thus have a direct impact on the inflation rate. However, such foreign currency purchases involve a risky expansion of the central bank’s balance sheet total. A new model can now predict what expansion of the balance sheet a central bank must expect if it wishes to implement a minimum exchange rate in the foreign exchange market.