Central banks ought to incorporate climate scenarios into their economic models and forecasting methods, said Executive Board member Sabine Mauderer following the publication of new NGFS reports.

President Jens Weidmann pointed out that the experts were forecasting only a slow recovery when measured against the sudden slump experienced: “Economic activity is expected to return to its pre-crisis level only towards the end of 2022,” he noted. Nevertheless, he is not anticipating any major long-term harm for the economy’s potential output, albeit based on the assumption that a medical solution to combat the pandemic will be available in the middle of next year.  

The Eurosystem's emergency purchase programe (PEPP) should be temporary in nature and clearly linked to the crisis.

According to Bundesbank President Jens Weidmann, the German economy has probably moved past the trough of the coronavirus crisis.

According to the latest Bundesbank projections, the German economy will recover following a deep recession in the second quarter of this year. Economic output is estimated to shrink by 7% in 2020, but in the next two years, real gross domestic product (GDP) will then increase by 3 to 4% per year.

“German economic output underwent a massive decline in the first quarter of 2020 owing to the COVID-19 pandemic and the measures taken to contain it,” the Bundesbank notes in the current issue of the Monthly Report. Since these measures were still in place in April and substantial restrictions are likely to persist in spite of an easing in some cases, the experts expect economic output in the second quarter to be significantly lower still.

Statement von Vorstandsmitglied Joachim Wuermeling zu Covid-19 und die Auswirkungen auf die Banken in Deutschland.

Covid-19 und die Auswirkungen auf die Banken in Deutschland – über dieses Thema haben Vertreter der Kreditwirtschaft, Politik, Wissenschaft und Bankenaufsicht am 5. Mai 2020 diskutiert.

Kurzfilm aus dem Medienpakt „Mit Geld umgehen“ für die Sekundarstufe I. Moderiert von Philipp Walulis.