Germany’s current account recorded a surplus of €23.9 billion in December 2021, up €5.4 billion on the previous month’s level. The surplus in the goods account declined, but the surplus in invisible current transactions, which comprise services as well as primary and secondary income, increased considerably more strongly.

German banks tightened their credit standards for loans to enterprises marginally in the second quarter 2022. In the case of loans to households for house purchase, the tightening of credit standards was stronger than at any other time since the introduction of the BLS. Credit standards for consumer credit and other lending were also tightened.

The group of emerging market economies have experienced impressive growth over the past 20 years, substantially boosting their share of global economic output and worldwide trade. Recently, however, economic momentum has tailed off considerably in a large number of emerging market economies, and the growth lead they once enjoyed over the industrial countries has narrowed.

11. – 12.05.2023 | Spring Conference | Eltville am Rhein (hybrid event)

Bundesbank Executive Board member Andreas Dombret is not expecting a financial market crisis following the UK's vote to leave the EU. At an event in Frankfurt am Main, he noted that, even though it was impossible to rule out further movements in prices or shifts of funds from one asset class to another, "a panic reaction to Brexit is rather unlikely at present".