26 July 2024 Ms Schnabel, the ECB did not lower interest rates any further in July. Do the rising prices for services currently pose a problem for the central bank? We continue to expect inflation to gradually converge to our 2% target over the course of …
26 July 2024 Euro area net saving increased to €809 billion in four quarters to first quarter of 2024, compared with €785 billion one quarter earlier Household debt-to-income ratio decreased to 85.7% in first quarter of 2024 from 90.9% one year earlier Non …
26 July 2024 Compared with May 2024: median consumer inflation perceptions over the previous 12 months declined noticeably, while median inflation expectations for the next 12 months and for three years ahead remained unchanged; expectations for nominal …
25 July 2024 Components of the broad monetary aggregate M3 The annual growth rate of the broad monetary aggregate M3 increased to 2.2% in June 2024 from 1.5% in May, averaging 1.7% in the three months up to June. The components of M3 showed the following …
25 July 2024 The European Central Bank (ECB) today published statistics on non-cash payments for the second half of 2023.[2] The statistics comprise indicators on access to and use of payment services, payment cards and terminals by the public, as well as …
23 July 2024 By Svetla Daskalova, Federico Maria Ferrara, Pedro Formoso da Silva, Pamina Karl and Thomas Vlassopoulos[1] Repo markets are vital for banks to source liquidity and securities. They also represent an essential link in the monetary policy …
23 July 2024 Last Thursday’s meeting seems to have left everything open with regard to September. We based our decision on the data we received since the last monetary policy meeting in June. For inflation, those data are practically in line with our …
It is beyond the scope of these opening remarks to review last week’s monetary policy meetings. However, a set of background slides are available on the ECB’s website. For instance, see Ferrando, A. and Forti Grazzini, C. (2023), “Monetary policy shocks …
by Regina Kiss and Georg Strasser[1] Households differ considerably in terms of the inflation they experience at any point in time. The main reasons for this are that prices (and thus price changes) differ from place to place and that households do not all …
In the ECB’s Survey of Professional Forecasters (SPF) for the third quarter of 2024, expectations for headline HICP inflation were largely unchanged from the previous survey (conducted in the second quarter of 2024).[1] Headline inflation was expected to …
19 July 2024 Current account recorded €37 billion surplus in May 2024, unchanged from the previous month Current account surplus amounted to €349 billion (2.4% of euro area GDP) in the 12 months to May 2024, after a balanced account one year earlier In …
19 July 2024 Inflation expectations unchanged for 2024 and 2025, at 2.4% and 2.0% respectively, and revised marginally downwards for 2026 to 1.9%; longer-term inflation expectations (for 2029) stand at 2.0% Real GDP growth expectations broadly unchanged …
19 July 2024 ECB publishes indicative calendars for Eurosystem’s regular tender operations and reserve maintenance periods for 2025 The European Central Bank (ECB) today published the indicative calendars for the Eurosystem’s regular tender operations and …
In the July 2024 bank lending survey (BLS), euro area banks reported a very small further tightening of their credit standards for loans or credit lines to enterprises in the second quarter of 2024 (net percentage of banks of 3%; see Overview table).[1] …
16 July 2024 Credit standards were broadly unchanged at tight levels in the second quarter of 2024 Loan demand continued to decline for firms, while recording the first increase for households since 2022 Credit standards for firms displayed some …
This report presents the main results of the 31st round of the Survey on the Access to Finance of Enterprises (SAFE) in the euro area, which was conducted between 28 May and 20 June 2024. In this survey round, firms were asked about economic and financing …
15 July 2024 Euro area enterprises signalled more positive developments as regards the supply of bank loans, reflected in a slight increase in bank loan availability, fewer obstacles to obtaining loans, as well as an improvement in banks’ willingness to …
10 July 2024 Credit terms and conditions eased somewhat over the period from March to May 2024 The maximum amount of funding, maximum maturity of funding and demand for funding increased across many types of collateral Improved liquidity and trading …
10 July 2024 By Jakob Feveile Adolfsen, Danielle Kedan and Marie-Sophie Lappe The green transition will significantly increase demand for key minerals over the coming decades. The impact on energy prices will ultimately depend on how supply adjusts. The …
Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 5-6 June 2024 4 July 2024 1. Review of financial, economic and monetary developments and policy options …
