Monthly Report

Monthly Report – June 2025 Vol. 77 No 6

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The June 2025 edition of the Monthly Report contains the Bundesbank’s current Forecast for Germany, which provides an outlook for how the German economy is likely to develop in the near future in view of US tariff policy and the new Federal Government’s fiscal package. A second article looks at the review of the Eurosystem’s operational framework for implementing monetary policy. Another article considers the question of when insurees retire and how pension reductions and increases could be determined depending on the timing of retirement.

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Forecast for Germany: US tariffs initially weigh on economic growth; fiscal policy provides impetus with a delay

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Review of the operational framework for implementing monetary policy: outlook for the Eurosystem balance sheet and structural operations

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Early, standard, late: when insurees retire and how pension benefit reductions and increases could be determined

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Statistical Section

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