The November 2018 edition of the Monthly Report comments on the economic situation in Germany in autumn 2018.

Times of strong growth and low interest rates have seen vulnerabilities build up in the German financial system. In addition, the probability of an economic downturn has increased.

The Bundesbank’s October 2018 Monthly Report comments on trends in state government finances, the implementation of the debt brake and future budgetary surveillance. It also analyses the macroeconomic impact of uncertainty as well as the activities of multinationals against the backdrop of national economic statistics. Furthermore, the report contains an article on the growing importance of exchange-traded funds on the financial markets.

How did Germany's gold reserves come into being and what role did gold play as a means of payment through the ages? What was the significance of gold reserves then and now? With this book, the Bundesbank's gold reserves are presented to readers for the first time in an informative and illustrative way, as if they were holding them in their own hands. The transfer of significant gold holdings from the depositories in New York and Paris to Frankfurt has attracted a great deal of public attention in recent years.