Digitalisation will increase the pace of structural change in the financial sector, too – developments in the world of payments being just one notable example. Central banks need to deal with increased debt levels worldwide and, at present, with heightened inflationary rate. And they must play a role in the transition to a climate-neutral economy.
Central banks play a key role in addressing challenges facing society. They ensure that currencies and financial markets remain stable. Monetary stability and financial stability are two sides of the same coin. We must guarantee both of these in Europe. For this reason, important strategic decisions were taken in the Eurosystem in 2021, in which the Bundesbank was heavily involved.