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Germany is planning to take on net new debt of €96.2 billion in 2021, Reuters reported on Friday, citing a German finance ministry sources familiar with the matter.

“German finance ministry plans debt brake should be reinstated from 2022,” sources told Reuters and added that the ministry sees a debt-to-GDP ratio of 72.25% in 2021. “German budget plans include maximal possible borrowing from 2022 through 2024.”

Market reaction

The EUR/USD pair largely ignored this headline and was last seen losing 0.05% on a daily basis at 1.1841.