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 2017
The October 2017 Monthly Report analyses emerging market economies’ global liquidity, foreign reserves and exchange rates and contains an article on developments in the natural interest rate. In addition, the Supervisory Review and Evaluation Process for smaller institutions and proportionality considerations are described, and the initial results of the new money market statistics as well as the new insurance statistics are presented.
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Monthly Report - September 2017
The September 2017 Monthly Report contains an article on monetary policy indicators at the zero lower bound on the basis of term structure models, and an analysis of the performance of German credit institutions in 2016. Explanations are also provided on the potential and risks of distributed ledger technologies in payments and securities settlement and on the changes and results in the process of extending the investment fund statistics.
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Monthly Report - August 2017
The August 2017 Monthly Report comments on the economic situation in Germany in summer 2017.
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Monthly Report - July 2017
The July 2017 edition of the Monthly Report describes the market for bonds issued by non-financial corporations in the low-interest-rate environment and developments in government interest expenditure in Germany and other euro area countries. It also contains articles on private interest income developments, taking into account inflation and taxes, as well as on the threats to the global economy posed by protectionist tendencies. Finally, the report also introduces the latest innovations in the monetary financial institutions’ (MFI) interest rate statistics.
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Monthly Report - June 2017
The June 2017 edition of the Bundesbank's Monthly Report outlines the prospects for the German economy on the basis of macroeconomic projections for 2017 and 2018, with a look ahead at the year 2019. It also discusses the design and implementation of the European fiscal rules.
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Monthly Report - May 2017
The May 2017 Monthly Report comments on the economic situation in Germany in spring 2017.
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Monthly Report - April 2017
The April 2017 Monthly Report outlines the role of banks, non-banks and the central bank in the money creation process and analyses the impact of demographic change and immigration on the German economy’s potential Output.
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Monthly Report - March 2017
The March 2017 Monthly Report sheds light on Germany’s balance of payments for 2016 and outlines the cyclical adjustment procedures carried out by the federal states as part of the debt brake.
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Monthly Report - February 2017
The February 2017 Monthly Report comments on the economic development in Germany in winter 2016/2017.
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Monthly Report - January 2017
The January 2017 Monthly Report contains an article on the Eurosystem’s asset purchases and the euro exchange rate. In addition, it analyses how debt levels have developed in the non-financial private sector in selected euro-area countries.