01Destatis · Sep 30German CPI rises to 3.3% in September; energy up 14.9%
Destatis' provisional estimate puts September consumer prices 3.3% above a year earlier (August: 2.9%) and 0.6% above August. The HICP, the euro-area comparison measure, also reads 3.3% year on year.
Core inflation excluding food and energy is 2.4%. Energy rose 14.9% year on year (August 10.5%, July 8.3%); services inflation eased to 2.7% while goods inflation rose to 3.8%. Final September figures are due Oct 13.
For finance: Re-check price-escalation clauses, energy cost budgets and wage-round assumptions against the 3.3% print before the final data on Oct 13.
02ECB · Sep 28ECB deposit rate is 2.50%; no pre-committed path ahead of Oct 29
At its Sep 10 meeting the ECB raised its three key rates by 25 basis points: deposit facility 2.50%, main refinancing operations 2.65%, marginal lending facility 2.90%, effective Sep 16. The Governing Council cited Middle East-related inflation pressure and said it is data-dependent, meeting by meeting, and not pre-committing to a rate path.
In its Sep 28 statement to the European Parliament's economic committee, the ECB restated the hike and the September staff projections: headline inflation averaging 3.0% in 2026, 2.5% in 2027 and 2.1% in 2028; core 2.5%, 2.6% and 2.3%. The ECB calendar lists the next monetary policy meeting as Oct 28–29, with the press conference on day two.
For finance: Update floating-rate debt and deposit interest forecasts for the 2.50% deposit rate, and treat the Oct 29 outcome as unknown.
03Bundesregierung · Sep 30Jahressteuergesetz 2026 heads to Bundestag with earn-out and loss-rule changes
This is a government bill, not law. The cabinet adopted it Aug 12; the Bundesrat gave its first-round opinion on Sep 25 and the government replied Sep 30, per EY. The Bundestag is expected to hold the first reading on Oct 8, with passage targeted within 2026.
EY reports the government accepts several Länder proposals: earn-outs taxed retroactively in the year of sale, tighter tax-neutral share exchanges for private holdings, and a statutory rule that losses under §§ 2a, 15 Abs. 4, 15a and 15b EStG are lost on a harmful change of ownership under § 8c KStG. It rejects raising the minimum trade tax multiplier to 300%. Other Bundesrat ideas, such as lifting the low-value asset limit from €800 to €1,200, are only under review. The bill also reforms VAT group (Organschaft) rules.
For finance: Model M&A earn-outs and loss carry-forwards under the draft rules and raise them with tax advisers; nothing is final until enacted.
04BaFin · Oct 1BaFin stops issuing circulars on adopting EU anti-money-laundering guidelines
From Oct 1, 2026 BaFin shows in a table on its website which ESA and AMLA anti-money-laundering guidelines it has adopted into its supervisory practice. It will no longer consult on or publish circulars that only state whether a guideline is adopted, according to Versicherungsmagazin, which cites BaFin.
BaFin's own page was not opened, so this rests on trade-press reporting of a BaFin announcement.
For finance: Compliance teams at supervised firms should track the BaFin table, not circulars, for which EU guidelines apply to them.