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.

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 Bundesbank posted a profit of € 2.5 billion for the 2018 financial year, representing a year-on-year increase of € 0.5 billion. This increase was due to higher interest income, noted Bundesbank President Jens Weidmann.