27 May 2024 Let’s start with the latest euro area wage data, which showed collective wage growth accelerating in the first quarter. Is this a worry? At the ECB we have developed a forward-looking wage tracker, which has anticipated the first-quarter number …
Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the Festival dell’ Economia di Trento Trento, 26 May 2024 It is a great pleasure to be here. As we meet today, we find ourselves at a critical juncture. Faced with the severe negative …
24 May 2024 On 6 June the Governing Council of the European Central Bank (ECB) will next decide on the level of interest rates. Will it be the beginning of a rate turnaround? Every decision is made on the day of the Governing Council meeting on the basis …
23 May 2024 By Sarah Holton and Gerrit Koester[1] Negotiated wage growth in the euro area increased in the first quarter of 2024. This post on The ECB Blog illustrates how the ECB wage tracker can help to put latest developments in negotiated wage growth …
23 May 2024 The next meeting of the ECB’s Governing Council is on 6 June. A reduction in interest rates is expected, as announced by some Governing Council members. So is the cut in rates a certainty? By 0.25 or 0.50 percentage points? We have been very …
22 May 2024 By Christophe Kamps[1] Why do central banks mostly give their guidance for future monetary policy in qualitative terms rather than providing a numerical formula? The ECB Blog takes a look through the lens of the “ABCs” of the ECB’s qualitative …
21 May 2024 Current account recorded €36 billion surplus in March 2024, up from €29 billion in previous month Current account surplus amounted to €310 billion (2.1% of euro area GDP) in the 12 months to March 2024, after a €76 billion deficit (0.6% of euro …
Financial market infrastructures (FMIs) are the backbone of the financial system. They provide the networks through which financial institutions and financial markets connect with each other and through which financial transactions are cleared and settled. …
17 May 2024 The market sees a rate cut in June for sure. How fast should things move beyond June? Depending on the incoming data and our new Eurosystem staff projections, a rate cut in June may be appropriate. But the path beyond June is much more …
We would like to hear from readers of the Financial Stability Review. Your feedback will help shape the future of the publication. Financial stability conditions have improved since the last edition of the Financial Stability Review was published. The near …
Prepared by Katharina Cera, Pierce Daly, Lieven Hermans, Philippe Molitor, Oscar Schwartz Blicke, Andrzej Sowiński and Elisa Telesca Published as part of the Financial Stability Review, May 2024. Euro area private markets have grown significantly in recent …
16 May 2024 Euro area financial stability conditions have improved as recession risks decline, but markets remain exposed to possible adverse macro-financial and geopolitical surprises Tight financial conditions are testing the resilience of vulnerable …
Prepared by Georg Leitner, Jaspal Singh, Anton van der Kraaij and Balázs Zsámboki[1] The emergence of generative artificial intelligence (AI) tools represents a significant technological leap forward, with the potential to have a substantial impact on the …
15 May 2024 By Omiros Kouvavas and Athanasios Tsiortas Despite rising interest rates, more consumers are applying for loans. This demand comes mainly from households with lower income. The ECB Blog takes a closer look into credit applications and how they …
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Prepared by Daniel Dieckelmann, Christoph Kaufmann, Chloe Larkou, Peter McQuade, Caterina Negri, Cosimo Pancaro and Denise Rößler Geopolitical risk can be a threat to financial stability and the global economy. It can adversely affect the economy and …
Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 10-11 April 2024 10 May 2024 1. Review of financial, economic and monetary developments and policy options …
7 May 2024 Alain Busac has over 30 years of managerial experience in information technology Alain Busac will drive the ECB’s digital transformation and IT modernisation projects The Executive Board of the European Central Bank (ECB) has appointed Alain …
6 May 2024 By Óscar Arce and David Sondermann Surprisingly strong employment growth in an environment of weak economic activity has recently led to declining labour productivity in the euro area. The ECB Blog discusses causes and prospects for a cyclical …
6 May 2024 Question: The euro area is struggling to keep pace with growth in the United States and China. Are you in any way concerned about Europe falling behind those two economies? Or do you think it’s something temporary and we’ll catch up eventually? …
