The macro-financial environment has deteriorated substantially over the course of 2022. It has been shaped by subdued growth prospects, high inflation as well as rising interest rates and risk premia.

The October 2021 edition of the Monthly Report contains an article on state government finances in 2020 from the perspective of the temporary impact of the pandemic on the deficit situation and the effect of escape clauses on the building of reserves. Another topic discussed is the development of the global economy during the coronavirus pandemic. The question of how households in Germany view the digital euro is also addressed, with a presentation of initial survey results and interviews. The report additionally features an article on the regulation of remuneration in credit institutions.

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