Monthly Reports from August 1948 until today
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The Monthly Reports from 1948 to 1999 have been scanned. They are available as image files and cannot be searched as full texts.
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Monthly Report – October Vol. 78 No 10
The October 2026 edition of the Monthly Report explores approaches to further developing European banking regulation, with a focus on simplifying requirements. Another article takes a disaggregated look at the recent rise in German inflation compared with the period of high inflation in 2022, while another examines Member States’ financial relationships with the EU in 2025. The Monthly Report also looks into the finances of German state and local governments in 2025 and finds, among other things, that local government deficits have risen further.
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Monthly Report – September 2026 Vol. 78 No 9
The September 2026 Monthly Report sets out ideas for reforming the sovereign-bank nexus, exploring the issue against the backdrop of fiscal risks and financial stability. The report also describes the performance of German credit institutions in 2025 and examines how monetary policy transmission in the euro area differs across economic sectors. A fourth article discusses how agentic payments work and what they mean for the payments system at large.
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Monthly Report – August 2026 Vol. 78 No 8
The August 2026 edition of the Monthly Report comments on the current economic situation in Germany.
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Monthly Report – July 2026 Vol. 78 No 7
The July 2026 Monthly Report analyses the contribution made by diminished price competitiveness to Germany’s recent weakness in exports. It also explains the implications of US tariffs and geoeconomic fragmentation for the global economy. Another article examines the cause and effect of growing bureaucratic burdens in Germany’s corporate sector.
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Monthly Report – June 2026 Vol. 78 No 6
The Bundesbank’s Forecast for Germany, which provides an outlook on how the German economy is likely to develop in the near future, will be published in the June 2026 edition of the Monthly Report. Another article highlights the challenges and scope for action given the potential impact of demographic change on the labour market and growth in Germany.
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Monthly Report – May 2026 Vol. 78 No 5
The May 2026 edition of the Monthly Report comments on the economic situation in Germany in spring 2026.
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Monthly Report – April 2026 Vol. 78 No 4
The April 2026 edition of the Monthly Report covers sustainability risks in banking supervision. Another article looks at Germany’s external assets in the light of geoeconomic tensions. The report also discusses the Banking Directive Implementation and Bureaucracy Relief Act (Bankenrichtlinienumsetzungs- und Bürokratieentlastungsgesetz, BRUBEG) and highlights trends in the financing structure of non-financial corporations in the euro area.
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Monthly Report – March 2026 Vol. 78 No 3
The March 2026 Monthly Report looks at current developments in demand for euro cash. A further article explains the key elements of, and outlook for, the digital euro. In addition, the significance of sectoral structural change for productivity growth in the euro area is examined, and the German balance of payments in 2025 is analysed.
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Monthly Report – February 2026 Vol. 78 No 2
The February 2026 edition of the Monthly Report comments on the economic situation in Germany at the turn of 2025/26.
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Monthly Report – January 2026 Vol. 78 No 1
The January 2026 Monthly Report looks at whether a more highly concentrated euro area banking market leads to a change in interest rate pass-through. Another article examines the underlying causes of euro/US dollar exchange rate movements. A third article describes government infrastructure investment in Germany and how new scope for borrowing should be used in a targeted manner in the future.