Presentation of the Deutsche Bundesbank's Annual Report 2023

23 February 2024 · Joachim Nagel, President of the Deutsche Bundesbank (Germany)

Summary written by Dark Majestic in its own words · topics: inflation and price stability

23 Feb 2024 · Joachim Nagel Wiki · Deutsche Bundesbank WikiPresentation of the Deutsche Bundesbank's Annual Report 2023

ContextIntroductory statement by Joachim Nagel, President of the Deutsche Bundesbank, at the press conference presenting the Annual Report 2023, Frankfurt am Main, 23 February 2024.

Why it mattersNagel reports a weak year for German industry and a cautious path for rates.

Problems raised

Weak external demand hurt industry.
High inflation held back consumption.
Tight policy raised financing costs.

Solutions proposed

Watch core inflation.
Keep policy restrictive until inflation falls.
Present transparent accounts.

Read full speech on bis.org ↗

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