World Economy/Germany

🇩🇪

Germany

DEU

Europe • Sovereign Currency: EUR

Analyze Germany with Schema AI

Nominal GDP

$4.59T

2024 Nominal

Annual GDP Growth

+0.2%

YoY Q3 2024 Flash

Inflation (CPI)

2.0%

Oct 2024 Harmonised HICP

Policy Rate

3.25%

ECB Deposit Rate

10Y Sovereign Yield

2.36%

German 10Y Bund

Unemployment Rate

3.6%

Sep 2024 (ILO standard)

Debt-to-GDP

63.7%

2024 Debt Ratio

Trade Balance

+$18.2B

Sep 2024 Surplus

BLOOMBERG ECONOMICS MONETARY POLICY TRANSMISSION

🇩🇪EUROPEAN CENTRAL BANK POLICY DASHBOARD

Target Instrument: Deposit Facility Rate • Sovereign: Germany (DEU)

STANCE: neutral

Next Meeting: 2026-10-29

LOOSER CONDITIONSIN LINE WITH TARGETTIGHTER CONDITIONS

STATUTORY BENCHMARK

3.25%Unchanged (0 bps)

Deposit Facility Rate

REAL CARRY SPREAD (r - π)

+1.25%

Neutral Equilibrium

OVERNIGHT BENCHMARK (€STR)

3.20%-5 bps

Euro Short-Term Rate

YIELD CURVE SLOPE (10Y - r)

-0.89%

Inverted Term Structure

WAGES & PRICES2 METRICS

Headline CPI Inflation (YoY)Oct 2024 Harmonised HICP

Anchored within standard statutory price stability corridor

Destatis / EurostatRef

2.00%

LOOSER

Distance to Inflation Target (2.0%)Oct 2024 Harmonised HICP

Inflation below 2% target anchor by 0.00 percentage points

Destatis / EurostatRef

0.00%

LOOSER

SUPPLY & DEMAND2 METRICS

Annual Real GDP Growth RateQ3 2024 Flash

Sluggish real economic momentum

DestatisRef

0.20%

MILD TIGHT

Unemployment Rate (Labor Slack)Sep 2024 (ILO standard)

Tight labor market conditions with minimal civilian slack

Federal Employment Agency / DestatisRef

3.60%

LOOSER

FINANCIAL CONDITIONS4 METRICS

Deposit Facility RateECB Deposit Rate

Official statutory policy target rate set by European Central Bank

European Central BankRef

3.25%

LOOSER

Real Carry Rate (Policy - CPI)Calculated

Positive real return regime delivering restrictive monetary drag

European Central Bank vs Destatis / Eurostat

+1.25%

LOOSER

10-Year Sovereign Benchmark YieldGerman 10Y Bund

Long-term sovereign borrowing benchmark discounting term premium & inflation risk

Deutsche BundesbankRef

2.36%

LOOSER

Yield Curve Slope (10Y - Policy Rate)Calculated

Inverted yield curve by 0.89% signaling restrictive monetary drag

Sovereign Debt Desk vs Central Bank Target

-0.89%

TIGHTER

EXTERNAL & FISCAL2 METRICS

Current Account / Trade BalanceSep 2024 Surplus

Trade balance surplus reinforcing sovereign foreign exchange buffer

Destatis Foreign TradeRef

+$18.2B

MILD LOOSE

General Government Debt / GDP2024 Debt Ratio

Moderate sovereign debt overhang requiring disciplined budget management

Deutsche Bundesbank / EurostatRef

63.70%

MILD LOOSE

HISTORICAL RATE DECISION TRAJECTORY (DEPOSIT FACILITY RATE)

Verified Chronological Decisions

2026-10-09

3.25%

Policy Assessment Summary: Key ECB interest rate on the deposit facility.

Key Domestic Equities & Capital Markets

Major corporate champions tracked in WOWS with sovereign economic exposure

Index: DAX 40 (DAX)

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