Monthly Reports from August 1948 until today
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The Monthly Reports from 1948 to 1999 have been scanned. They are available as image files and cannot be searched as full texts.
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Monthly report - October 2020
The October 2020 edition of the Monthly Report analyses developments in the German banking system during the negative interest rate phase and outlines patterns of international business cycles. It also features an article on the protracted rise in real estate prices in Germany from a macroeconomic perspective, taking into account transmission channels and fundamental determinants. Finally, the report explains state government budget figures for 2019.
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Monthly report - September 2020
The September 2020 edition of the Monthly Report analyses the impact of monetary policy on the euro exchange rate and investigates global financial interconnectedness as well as spillover effects between the G20 countries. In addition, it discusses the performance of German credit institutions in 2019.
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Monthly report - August 2020
The August 2020 edition of the Monthly Report comments on the economic situation in Germany in summer 2020.
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Monthly report - July 2020
The July 2020 Monthly Report looks at the German current account surplus through the lens of macroeconomic models and examines the extent to which German households store cash, as well as their reasons for doing so.
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Monthly report - June 2020
The June 2020 edition of the Bundesbank’s Monthly Report outlines Germany’s economic outlook for 2020 to 2022 and features an article on the topic of cash withdrawals and payments in urban and rural areas.
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Monthly Report - May 2020
The May 2020 edition of the Monthly Report comments on the economic situation in Germany in spring 2020.
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Monthly report - April 2020
The Bundesbank’s April 2020 Monthly Report outlines sectoral portfolio adjustments in the euro area during the low interest rate period. It also features an article on the road so far and the road ahead for the EU budget and its financing.
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Monthly report - March 2020
The March 2020 Monthly Report analyses Germany’s balance of payments for 2019 and outlines the statistical data on households’ digital purchases that are contained in the balance of payments. It also includes an article on the challenges ahead posed by new reference interest rates using the implementation of the €STR in the euro area as an example.
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Monthly Report - February 2020
The February 2020 edition of the Monthly Report comments on the economic situation in Germany in winter 2019/2020.
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Monthly Report - January 2020
The January 2020 edition of the Monthly Report analyses the upturn in loans to enterprises in Germany between 2014 and 2019 and describes the consequences of rising protectionism.