New #discussionpaper  by Bundesbank#researchcentre : Global value chain participation and exchange rate pass-through #exchangerates  #valuechains  #imports 

Current account surplus down: Germany’s current account recorded a surplus of €22.5 billion in October 2020. That was €2.7 billion less than in the previous month. #balanceofpayments 

Apply now for our new #onlinecourses  about #supervisory  reporting requirements and #monetarypolicy  implementation in the Eurosystem. They are mainly targeted at staff from partner #centralbanks  and supervisory authorities. Find out more: #CIC 

Inflation expectations rise: Individuals are expecting inflation to come to 3.1% on average over the next 12 months. Further results of the Bundesbank Online Panel Households: expectations #inflation  #inflationexpectations  #expectations  #panel 

Current #press  dates from 14 to 21 January, including the #MonthlyReport  January

Current Figure: The #financialassets  of households in Germany increased by €108 billion in the third quarter of 2020 and now amount to roughly €6.7 trillion.

Decrease in current account surplus: Germany’s current account recorded a surplus of €21.3 billion in November 2020. That was €1.6 billion less than in the previous month. #balanceofpayments