Bundesbank President Jens Weidmann believes all institutions have a duty to ask themselves how they can contribute to combating climate change within the framework of their mandate. “I am convinced that we all can do more to mitigate climate change, without risking conflict with our very own tasks. And we should do more,” Mr Weidmann said in a speech delivered virtually in Frankfurt.

The Bundesbank registered approximately 58,800 counterfeit euro banknotes in 2020 with a nominal value of €2.9 million, with mostly €10 and €20 banknotes being counterfeited.

Many citizens have been increasingly using cards to make payments during the coronavirus pandemic. “According to a representative Bundesbank survey in 2020, the importance of cashless payment methods, especially cards, in everyday expenditures has been growing considerably,” said Bundesbank Executive Board member Burkhard Balz at the unveiling of the results.

Growth in labour productivity in the euro area has slowed significantly over the past 20 years. This was not least due to structural factors, the Bundesbank explains in its current Monthly Report. In addition to enterprises’ diminishing ability to innovate and adapt, demographic change could also have a negative impact on labour productivity, according to the experts.