European Central Bank @ecb@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
The euro area is highly exposed to energy shocks related to the war in Ukraine. Therefore, headline inflation is expected to remain higher in the euro area in the short term, despite the weaker economic outlook
2/3
🧵Inflation is expected to be higher and more persistent in the United States than in the euro area over the next two years despite headline inflation rate, driven mainly by food and energy prices rising more in the euro area recently https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_01~c11d09d5fd.en.html #EconomicBulletin
1/3
Tune in at 11:10 CET to watch Executive Board member @Isabel_Schnabel talk about monetary policy tightening and the green transition in a panel discussion at the International Symposium on Central Bank Independence organised by @riksbanken.
Bankers and supervisors should be monitoring risks arising from the current environment, says Supervisory Board member Kerstin af Jochnick. Banks need to proactively guard against credit risk and ensure they fully meet our supervisory expectations.
More https://www.bankingsupervision.europa.eu/press/interviews/date/2023/html/ssm.in230110~27fd2272fa.en.html
Our latest #EconomicBulletin also examines how the pandemic affected wage dynamics differently across euro area countries.
Find out more https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_04~ece5feea7b.en.html
4/4
Wage growth is expected to be very strong in the coming quarters compared with the historical average. This reflects the robust labour market, the increase in national minimum wages and some catch-up between wages and high inflation rates
3/4
Because of high inflation, real wages are now substantially lower than they were before the pandemic and are likely to fall further. This could lead to trade unions demanding higher wage increases, especially in sectors where wages are lower
2/4
🧵Wage growth indicators have been extremely volatile since the start of the pandemic, partly due to job retention schemes. Recently, wage growth in the euro area has gradually started to pick up, especially in the services sector https://www.ecb.europa.eu/pub/economic-bulletin/articles/2023/html/ecb.ebart202208_02~2328747465.en.html #EconomicBulletin
1/4
Presentation Philip R. Lane: The euro area economic outlook https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230106~1729730341.en.pdf
Panetta: Crypto regulation and taxation won’t be enough. To build solid foundations for digital finance, we need a risk-free digital settlement asset. That’s why the ECB and central banks around the world are working on both retail & wholesale central bank digital currencies
3/3
Panetta: Regulators must avoid falling prey to the crypto industry’s intense lobbying, steering clear of poor or incomplete regulation and the legitimisation of unsound crypto models
2/3
The cost to society of an unregulated crypto industry is too high to ignore, writes Executive Board member Fabio Panetta in the ECB Blog. Regulators should treat trading in unbacked digital assets as they would gambling activities.
https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230105~75d5aee900.en.html
1/3
Check out our latest podcast episode on why we’re raising interest rates and how this will help to bring inflation down https://pod.link/1481819425/episode/819cf72fa8783e89e8701b020f93c6cd
Want more? You’ll find all the episodes of #TheECBPodcast here https://pod.link/1481819425
4/4
President Christine @Lagarde and @LSEnews Director Minouche Shafik discussed the impact of gender bias on education, home life, the workplace and leadership in this episode of #TheECBPodcast https://pod.link/1481819425/episode/e63805a1f56b49a97b1280185da2b3d0
3/4
Are cyberattacks a threat to financial stability? Why do hackers target financial institutions?
Our expert John Fell answered these and other questions on #TheECBPodcast https://pod.link/1481819425/episode/367327237cad1734e537e96ea1681621
2/4
🧵Interested in insights into the world of central banking?
Catch up with #TheECBPodcast to listen to our host, @katieranger_, talk to experts about the topics that matter to the euro area economy today.
Here is a recap of some of the episodes in 2022 ⬇️
1/4
Borrowing has become more expensive for governments. But despite interest rate increases, government debt can remain on a sound path. #TheECBblog looks at a favourable balance between debt costs and economic growth.
Read more https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230104~7aa6afd8fb.en.html
How did euro area bank interest rates evolve in November? How do they compare with October’s figures? Find out more in the press release https://www.ecb.europa.eu/press/pr/stats/mfi/html/ecb.mir2211~8eae8f300c.en.html
Did you know there are two types of money?
Find out what they are and why central bank money is important for a digital euro by checking out our #Explainer https://www.ecb.europa.eu/ecb/educational/explainers/html/digital_euro_central_bank_money.en.html
4/4
Climate change matters to the ECB, as it affects the economy in different ways.
Check out our #Explainer to find out how and to discover what we are doing to tackle climate-related risks https://www.ecb.europa.eu/ecb/educational/explainers/html/why_climate_change_matters.en.html
3/4
Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
