Experts from the Bundesbank have criticised the common European budgetary rules and their implementation as becoming less and less comprehensible and predictable. They are calling for reforms to restrengthen the rules’ binding force.

NGFS calls for action by central banks, supervisors and all relevant stakeholders for greening the financial system.

The German economy grew moderately in the first quarter of 2019. However, in the Bundesbank’s assessment, the still positive development was largely attributable to one-off effects. The Bundesbank's economists write that the already booming construction sector profited further from the favourable weather in February, for example.

Household net wealth in Germany increased significantly between 2014 and 2017. In particular, real estate owners benefited from rising prices in this context. The distribution of wealth remains unequal.

Economic activity in Germany has slowed down significantly. Speaking on the sidelines of the IMF and World Bank spring meeting in Washington, Bundesbank President Jens Weidmann noted that economic growth in 2019 will lag far behind potential output growth of 1.5%.

Bundesbank Executive Board member Joachim Wuermeling has noted that the Bank is neutral when it comes to bank mergers. “We may monitor such processes, but we certainly do not initiate them,” he announced at the Bundesbank’s 2019 banking symposium in Frankfurt am Main.

Economic activity in Germany remained subdued at the start of the new year. According to the current issue of the Bundesbank’s Monthly Report, this was primarily due to industrial activity continuing to cool. By contrast, the construction sector and private consumption buoyed growth.

The ECB Governing Council has announced its intention to launch a new round of targeted longer-term refinancing operations (TLTROs) starting in September 2019 and having a maturity of two years. It kept the key ECB interest rates unchanged.

The European Central Bank (ECB) and the Bank of England have decided to activate a standing swap line through which the Bank of England will offer to lend euro to UK banks on a weekly basis. The ECB will receive pound sterling from the Bank of England in exchange for euro. The activation marks a prudent and precautionary step by the Bank of England to provide additional flexibility in its provision of liquidity insurance, supporting the functioning of markets that serve households and businesses.

The Bundesbank’s Executive Board has endorsed the nomination of Jens Weidmann for a second term of office as Bundesbank President. The Executive Board notified the Federal Government that it had no objections to the Federal Cabinet’s nomination.