In the first half of 2020, the global coronavirus pandemic led to the most severe economic slump in Germany in decades. Governments and central banks around the world have taken extensive measures to stabilise the economy as well as labour and financial markets.

The March 2021 Monthly Report analyses Germany’s balance of payments for 2020 and outlines the new European prudential framework for investment firms.

The June 2021 edition of the Bundesbank’s Monthly Report outlines the outlook for the German economy for 2021 to 2023 and analyses how the central bank’s asset purchases increase the sensitivity of government finances to interest rate changes. It also features an article on central government debt and why interest payment premiums should be booked on an accrual basis, while, on the topic of local government debt, a further article discusses how local government budget imbalances can be avoided and cash advances limited.

The May 2020 edition of the Monthly Report comments on the economic situation in Germany in spring 2020.

The September 2020 edition of the Monthly Report analyses the impact of monetary policy on the euro exchange rate and investigates global financial interconnectedness as well as spillover effects between the G20 countries. In addition, it discusses the performance of German credit institutions in 2019.

The March 2019 edition of the Bundesbank’s Monthly Report sheds light on Germany’s balance of payments for 2018 and it analyses the demand for cash in the shadow economy.