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The Eurosystem's excess liquidity in the euro area banking system continued its gradual decline from July to November 2025.
A new study from the European Central Bank (ECB) links firms' labour hoarding decisions to their expectations about future business conditions.
A new European Central Bank study highlights limitations of text-based trade policy uncertainty measures, proposing a refined indicator for more accurate macroeconomic analysis.
Bulgaria officially adopted the euro on January 1, 2026, becoming the 21st member of the euro area following formal approval by the Council of the European Union on July 8, 2025.
Press
View all →The German Bundesbank, on behalf of the Federal Republic of Germany – Finance Agency, is tendering a 10-year federal bond with a 2.90 percent coupon.
The Deutsche Bundesbank announced the results of its federal bond auction held on January 7, 2026.
The Bundesbank reported high net sales on the German bond market in November 2025.
The Bundesbank has provided information on its key initiatives, including the digital euro project, its support for a low-carbon economy, and new statistical data services.
Papers
View all →The Eurosystem's excess liquidity in the euro area banking system continued its gradual decline from July to November 2025.
A new study from the European Central Bank (ECB) links firms' labour hoarding decisions to their expectations about future business conditions.
A new European Central Bank study highlights limitations of text-based trade policy uncertainty measures, proposing a refined indicator for more accurate macroeconomic analysis.
Speeches
View all →ECB Vice-President Luis de Guindos underscored the critical importance of central bank independence for price stability and lower interest rates.
ECB Vice-President Luis de Guindos stated on January 14, 2026, that the euro area faces elevated financial stability risks amid profound global uncertainty and geopolitical shifts.
Federal Reserve Board member Miran stated that sweeping deregulation in the United States will significantly boost competition, productivity, and potential growth.
Dave Ramsden, Deputy Governor for Markets and Banking at the Bank of England, outlined the evolution of the Bank's resolution approach, emphasizing responsiveness and proportionality to support financial stability and economic growth.