Beginning on 30 June, the Deutsche Bundesbank’s numismatic collection will be presenting a special exhibition on the topic of “Money Creators”: at six stations, visitors can learn more about the key people and institutions who, as “money creators”, decide what counts as money. The exhibition will be on display until the end of May 2022.

From 1990 to 1998, Otmar Issing was the Bundesbank’s chief economist. As chief economist at the European Central Bank (ECB), he was responsible for crafting the ECB Governing Council’s monetary policy strategy. Speaking at an academic colloquium to mark Mr Issing’s 85th birthday, Bundesbank President Jens Weidmann said that Mr Issing had shaped the landscape of monetary policy in Europe like few others.

The global economy has rebounded surprisingly strongly and quickly from the COVID-19 pandemic, the Bank for International Settlements (BIS) writes in its Annual Economic Report. A timely, forceful and concerted policy drive on the part of monetary, fiscal and prudential authorities was able to prevent the worst. However, the report explains, recovery has been very uneven across countries and economic sectors. Furthermore, the pandemic has exacerbated income and wealth inequality.

“Cash in times of turmoil” – it was under this banner that the Bundesbank held its fifth International Cash Conference. Executive Board member Johannes Beermann was joined at the virtual, English-language event by a number of experts, including ECB Governing Council member Fabio Panetta.

According to the current issue of the Monthly Report, prior to the coronavirus crisis local government finances were in good shape overall, albeit with major differences from municipality to municipality. Now, as a result of the coronavirus crisis, the report points to a risk of budget imbalances becoming more widespread again and local governments turning to cash advances to finance their budgets.

“The German economy is overcoming the coronavirus crisis and is poised for the start of a strong upswing,” writes the Bundesbank in its semi-annual projection. The Bundesbank’s economists expect that gross domestic product will reattain its pre-crisis level as early as this summer. It is likely that the rate of inflation will rise strongly to 2.6% in 2021.

Bundesbank President Jens Weidmann says that climate-related financial disclosures should be mandatory. “The Eurosystem has a legitimate interest in making climate-related risks more transparent,” he said in a speech at the Green Swan 2021 Global Virtual Conference.

The German Financial Stability Committee (G-FSC) has presented its eighth report on financial stability in Germany to the German Bundestag. Its report focuses on the impact of the coronavirus pandemic on the German financial system.

Bundesbank President Jens Weidmann refuted the harsh criticism directed at the debt brake by some. In a speech delivered in honour of the 70th anniversary of the German Economic Institute, he said that it was “not an impediment to forward-looking investment and a modern state”.

German economic output could grow again significantly in the second quarter of 2021, according to the Bundesbank’s Monthly Report. Rapid progress in the vaccination campaign opens the prospect of a considerable loosening of containment measures in the coming months. GDP could then exceed its pre-crisis level as early as the fourth quarter.