The German economy will probably shrink again in the current quarter as a new wave of coronavirus infections stops many people from going to work, the Bundesbank said on Monday, while predicting a rebound in the spring. Europe’s largest economy went into reverse in the last three months of 2021 as its large industrial sector…
German Economy Likely to Shrink Again in Firts Quarter: Bundesbank
German Government Chooses Joachim Nagel to Head Central Bank
December 20, 2021
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BERLIN—The new German government has chosen an experienced central banker and former board member of Germany’s state-owned development bank to head the country’s central bank, the finance minister said Monday. Joachim Nagel will succeed Jens Weidmann, who announced in October that he would step down at the end of the year after a decade as…
German Banks Vulnerable to Housing Bubble; Should Build Buffers: Bundesbank
November 25, 2021
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FRANKFURT—Germany’s banks are increasingly vulnerable to an overvalued property market and finance authorities should force lenders to build up capital buffers, the Bundesbank said on Thursday in a regular stability report. Germany cut the so-called countercyclical buffer for banks to zero at the start of the pandemic but economic growth is now robust and bank…
Germany’s Economy Is Taking a Breather but Inflation Isn’t, Bundesbank Warns
November 22, 2021
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FRANKFURT—The German economy is taking “a breather” as a lack of goods and labour as well as new restrictions designed to fight the coronavirus pandemic put an end to its recent boom, the country’s central bank said on Monday. The Bundesbank also warned that inflation in Europe’s largest economy was likely to stay well above…
Bundesbank Chief Weidmann Quits Early With One Last Inflation Warning
FRANKFURT—Bundesbank President Jens Weidmann, a relentless critic of the European Central Bank’s ultra easy monetary policy, will step down more than five years early, opening the door for Germany’s new government to pick a less confrontational successor. Weidmann said he would leave for personal reasons on Dec. 31, just days after the ECB must make…
Bundesbank Says Germany’s Banking System Strong Despite Pandemic
BERLIN—Germany’s banking system is still robust despite a year and half of the COVID-19 pandemic but the crisis is not over yet, Bundesbank board director Joachim Wuermeling said on Wednesday. Wuermeling said the Bundesbank will restore normal regulatory requirements for banks but will make sure not to overburden lenders, warning of possible significant credit defaults…
ECB’s Weidmann Wants Digital Euro to Start Small
FRANKFURT—A digital euro, currently under design by the European Central Bank, should have a limited role initially as it could disrupt the bank sector and overly extend the role of central banking, Bundesbank President Jens Weidmann said on Tuesday. “A gradual approach might make sense given the risks involved—that means a digital euro with a…
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