The Bundesbank’s October 2019 Monthly Report reviews and analyses the market for sustainable financial investments, as well as studying the European investment funds market and the role of bond funds in the low interest rate environment. Furthermore, it describes the long-term outlook for the statutory pension insurance scheme and explains structural reforms in the euro area.

On the basis of selected empirical analyses, the September 2019 Monthly Report explains the impact that wages have on prices in Germany and features an analysis of detailed state government budget figures for 2018. In addition, the Monthly Report describes the long-term changes in the unsecured interbank money market and also discusses banks’ profitability in 2018.

The August 2019 edition of the Monthly Report comments on the economic situation in Germany in summer 2019.

The July 2019 edition of the Bundesbank’s Monthly Report describes co-movements between the exchange rates of major currencies and addresses the topic of crypto tokens in payments and securities settlement.

The June 2019 edition of the Bundesbank’s Monthly Report outlines the prospects for the German economy on the basis of projections for 2019 and 2020 and looks ahead at the year 2021. It also covers the overhaul of European banking regulation and features an analysis of the costs associated with different means of payment in the retail sector. Lastly, the changing face of payments services is explored, with reference to instant payments, PSD2 and new competitors.

The May 2019 edition of the Monthly Report comments on the economic situation in Germany in spring 2019.

The April 2019 Monthly Report presents the results of the 2017 survey on household wealth and finances in Germany and analyses the interest rate pass-through in the low interest rate environment. It also contains an article outlining reform options for the European Stability and Growth Pact as well as an article describing how the Stability Council will monitor the German debt brake as of 2020.

The March 2019 edition of the Bundesbank’s Monthly Report sheds light on Germany’s balance of payments for 2018 and it analyses the demand for cash in the shadow economy.

The February 2019 edition of the Monthly Report comments on the economic situation in Germany in winter 2018/2019.

The January 2019 edition of the Bundesbank’s Monthly Report looks into how a normalisation of interest rates will impact on balance sheets in the euro area’s private non-financial sector and explores price competitiveness in a number of euro area countries in terms of the development, drivers and influence of labour market reforms. The Report also features an analysis of financial cycles in the euro area and sheds light on International Financial Reporting Standard (IFRS) 9 from a banking supervision angle.