The Bundesbank’s October 2019 Monthly Report reviews and analyses the market for sustainable financial investments, as well as studying the European investment funds market and the role of bond funds in the low interest rate environment. Furthermore, it describes the long-term outlook for the statutory pension insurance scheme and explains structural reforms in the euro area.

Risks to the German financial system are clearly on the increase – main challenges lie in the worsening and widening sovereign debt crisis and the associated loss of confidence in the European banking system.

The April Monthly Report illuminates the fundamental theory and evolution of metrics used to measure equity market levels, besides shedding light on the Phillips curve and its use in analysing prices and projecting inflation rates in Germany.