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“Our job is not done yet”

24.01.2023

High inflation is certainly placing a heavy strain on families, firms and our economies as a whole, said Bundesbank President Joachim Nagel in a joint interview with François Villeroy de Galhau, Governor of the Banque de France. Referring to the ECB Governing Council´s aim of achieving an inflation rate of 2% in the euro area in the medium term, Nagel emphasized: “We need to rein in inflation.

“Our job is not done yet”
Joachim Nagel and François Villeroy de Galhau during an interview with L'Express
Federal Statistical Office: German economy grows by 1.9% in 2022

16.01.2023

The German economy grew last year despite inflation, the war in Ukraine and persistent supply problems. Price-adjusted gross domestic product (GDP) rose by 1.9%, according to initial calculations reported by the Federal Statistical Office. In calendar-adjusted terms, it found that economic growth amounted to 2.0%. “In 2022, the overall economic situation in Germany was affected by the consequences of the war in Ukraine and the extremely high energy price increases,” said Dr Ruth Brand, President of the Federal Statistical Office since 1 January 2023, at a press conference.

Federal Statistical Office: German economy grows by 1.9% in 2022
Female carpenter using electric sander for wood
Temporary reallocation of responsibilities within the Executive Board of the Deutsche Bundesbank

01.01.2023

Dr Johannes Beermann left the Deutsche Bundesbank’s Executive Board on 31 December 2022. As a result, the Executive Board has reshuffled its areas of responsibility. The temporary reallocation of responsibilities shall apply with immediate effect.

Temporary reallocation of responsibilities within the Executive Board of the Deutsche Bundesbank
Executive Board
Croatia to join euro area

27.12.2022

Croatia is introducing euro cash on 1 January 2023, making it the 20th Member State of the euro area. Croatian kuna banknotes can be exchanged for euro free of charge at all Bundesbank branches between 1 January and 28 February 2023. Croatia’s accession to the euro area will change the composition of the Governing Council of the European Central Bank (ECB) and the ECB’s capital, as well as the capital key used to calculate it.

Croatia to join euro area
National flag of Croatia with old and new currency
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