The October 2020 edition of the Monthly Report analyses developments in the German banking system during the negative interest rate phase and outlines patterns of international business cycles. It also features an article on the protracted rise in real estate prices in Germany from a macroeconomic perspective, taking into account transmission channels and fundamental determinants. Finally, the report explains state government budget figures for 2019.

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 August 2020 edition of the Monthly Report comments on the economic situation in Germany in summer 2020.

The July 2020 Monthly Report looks at the German current account surplus through the lens of macroeconomic models and examines the extent to which German households store cash, as well as their reasons for doing so.

The June 2020 edition of the Bundesbank’s Monthly Report outlines Germany’s economic outlook for 2020 to 2022 and features an article on the topic of cash withdrawals and payments in urban and rural areas.

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

The Bundesbank’s April 2020 Monthly Report outlines sectoral portfolio adjustments in the euro area during the low interest rate period. It also features an article on the road so far and the road ahead for the EU budget and its financing.

The March 2020 Monthly Report analyses Germany’s balance of payments for 2019 and outlines the statistical data on households’ digital purchases that are contained in the balance of payments. It also includes an article on the challenges ahead posed by new reference interest rates using the implementation of the €STR in the euro area as an example.

The February 2020 edition of the Monthly Report comments on the economic situation in Germany in winter 2019/2020.

The January 2020 edition of the Monthly Report analyses the upturn in loans to enterprises in Germany between 2014 and 2019 and describes the consequences of rising protectionism.