Das Geldvermögen der privaten Haushalte ist im dritten Quartal 2021 um 73 Milliarden Euro auf 7.399 Milliarden Euro gestiegen. Im Vergleich zu den Vorquartalen war das Wachstum unter Berücksichtigung sämtlicher Transaktionen und Bewertungsänderungen somit merklich schwächer.

Germany’s current account recorded a surplus of €18.9 billion in November 2021, up €1.3 billion on the previous month’s level. The surplus in the goods account declined slightly, but the surplus in invisible current transactions, which comprise services as well as primary and secondary income, increased more strongly. 

The Deutsche Bundesbank calculates the basic rate of interest in pursuant to statutory requirements and publishes its current level in the Federal Gazette. 

The consultation regarding the nomination of Dr Joachim Nagel as President of the Deutsche Bundesbank, took place on Wednesday. The Executive Board did not raise any objections and is looking forward to working together with Dr Nagel.

The German economy will experience a setback in the final quarter of 2021 and the first quarter of 2022 on account of the pandemic, but is set to pick up significant momentum again in spring of next year. “The upswing has been slightly delayed,” said Bundesbank President Jens Weidmann at the presentation of his institution’s current projections. According to these projections, gross domestic product will increase by 2.5% this year – less strongly than anticipated back in June – in light of the dip in growth. Over the next two years, calendar adjusted economic growth will then rebound to 4.2% and 3.2%, respectively.

Germany’s current account recorded a surplus of €15.4 billion in October 2021, down €4.6 billion on the previous month’s level.

The financial system has functioned well during the pandemic. Government stabilisation measures have shielded the real economy and – indirectly – the financial system from the pandemic fallout.

Germany’s current account recorded a surplus of €19.6 billion in September 2021, up €4.2 billion on the previous month’s level.