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 March 2022 edition of the Monthly Report features an article on monetary policy in a protracted phase of low interest rates, discussing the concept of the reversal rate. In addition, it analyses Germany’s balance of payments for 2021.