The May 2024 edition of the Monthly Report comments on the economic situation in Germany in spring 2024.

The April 2024 Monthly Report describes the development of households’ wealth accounts, outlines the impact of technological progress on energy efficiency and provides an overview of the creditor structure of government bonds in the euro area.

The March 2024 Monthly Report explains business dynamism in the euro area, discusses demand for banknotes in crises and presents the German balance of payments for 2023.

Im Monatsbericht Februar 2024 wird die Wirtschaftslage in Deutschland um die Jahreswende 2023/24 erläutert.

The February 2024 edition of the Monthly Report comments on the economic situation in Germany in winter 2023/24.

Der Monatsbericht Januar 2024 erläutert die konjunkturelle Lage Deutschlands im vierten Quartal 2023. Außerdem gibt er eine Übersicht über die Entwicklung der Kommunalfinanzen im dritten Quartal 2023.

The January 2024 Monthly Report outlines the risks for Germany arising from economic integration with China. In addition, it provides an outlook on the future of cash.

How will cash be used in the future? A recent Bundesbank study has investigated this question, outlining three different scenarios for cash payments in 2037. The study provides an idea of the social and economic environment in which cash will be embedded in the future.

The December 2023 Monthly Report projects how the German economy is likely to develop up until 2026. It also features an article discussing model-based recommendations for monetary policy decision-making. In addition, the report analyses the profitability and financing of German enterprises in 2022. A further contribution examines the challenges and current situation with regard to the regulation of crypto assets.

The macroeconomic environment is being shaped by the interest rate reversal and heightened uncertainty. So far, the German financial system has coped well with the rise in interest rates over the last year, but the effects of this rise have not yet fully materialised. Structural change in the economy is also likely to further increase credit risk.

The November 2023 edition of the Monthly Report comments on the economic situation in Germany in autumn 2023.

The October 2023 edition of the Monthly Report examines whether German and euro area price competitiveness is favourable. It also describes how state government finances developed in 2022 and finds that, despite large surpluses overall, recourse to emergency loans was extensive in some cases.

In der aktuellen Ausgabe informieren wir Sie unter anderem über den digitalen Euro, den Monatsberichts-Aufsatz "Digitales Geld: Optionen für die Finanzindustrie", Zahlungsverkehr auf der BaFinTech 2023 sowie über Zahlungsverkehrsanalyse im wissenschaftlichen Diskurs. 

The Bundesbank’s September 2023 Monthly Report takes a look at se-lected aspects of the current dependencies and medium-term challenges for Germany as a business location. It also discusses the question of whether there are heterogeneous effects in the implementation of monetary policy in the euro area. The report further includes an analysis of the reliability of models for short-term economic forecasting during recent crises. Another article describes Member States’ financial relationships with the EU budget and the Next Generation EU off-budget entity in 2022. And finally, the performance of German credit institutions in 2022 is discussed.

The August 2023 edition of the Monthly Report comments on the economic situation in Germany in summer 2023.

German economic output is likely to have gone up slightly again in the second quarter of 2023, according to the Monthly Report. Private consumption has stabilised after previously having fallen. According to the experts, the fact that the labour market remained in good shape, wages rose sharply and price inflation did not continue to accelerate contributed to this development. Meanwhile, the decline in foreign demand was a drag on industry and the rise in funding costs dampened domestic investment. The Bundesbank is expecting the economy to recover haltingly later in the year.

The July 2023 issue of the Monthly Report highlights the financial industry’s options regarding digital money. Another article analyses cross-border liquidity flows and links them to the role of the banking system in Germany’s balance of payments. A third text discusses economic developments in emerging market economies. 

The June 2023 Monthly Report projects how the German economy is likely to develop up until 2025. Another article in the report analyses how bank interest rates in Germany change as monetary policy is tightened. A further contribution discusses the growing significance of central government’s off-budget entities.