At a speech in Luxembourg, Bundesbank President Joachim Nagel touched on topics including the upcoming interest rate decision by the Governing Council of the ECB and the German economy, amongst other things. The German economy was also the topic of his recent interview with the Financial Times.

Germany’s current account recorded a surplus of €22.6 billion in September 2024, up €5.5 billion on the previous month’s level. This was caused by the larger surplus in the goods account and especially by the shift to a surplus in invisible current transactions, which comprise services as well as primary and secondary income.

The strategy sets out in a binding manner how the Bundesbank intends to fulfil its mandate and forms the basis for its new steering model.

It is published once a year at the end of November. The previous year is revised with the publication of the current reporting year.

The digital euro is not intended as a substitute for existing products, Bundesbank Executive Board member Burkhard Balz underscored at a joint Bundesbank-Oesterreichische Nationalbank conference where experts and central bankers discussed the usefulness of the digital euro for everyday payments and the financial markets. They also addressed potential challenges associated with its introduction.

Once a year, the Bundesbank invites guests from the spheres of politics, academia and society to the Capital City Reception in Berlin to exchange views on the economic situation and current topics. This year's event saw Bundesbank President Joachim Nagel welcome IMF Managing Director Kristalina Georgieva and author Constanze Stelzenmüller as special guests.

In his speech at the German Institute for Economic Research (DIW Berlin), Bundesbank President Joachim Nagel highlighted the importance of the European single market. He said that it was truly a source of prosperity and could help to more effectively overcome future challenges. He called for greater efforts to deepen the integration of the single market, particularly in the areas of services, digitalisation, and the capital market. Furthermore, he stressed that credible fiscal rules were essential for monetary union.