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
🧵A mixture of ambitious carbon emissions pricing, further regulatory action and technological innovation is needed to meet the EU’s climate goals. Our #EconomicBulletin looks at the short to medium-term economic impact of carbon pricing https://www.ecb.europa.eu/pub/economic-bulletin/articles/2023/html/ecb.ebart202305_01~a6ff071a65.en.html
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Re Carbon price increases affect output and inflation mainly through higher energy prices. But their impact also depends on distributional effects, global transition policies, fiscal and monetary policy and the ability of financial intermediaries to support capital reallocation.
3/4
Re Model-based estimates of the impact of a plausible carbon price path for the rest of this decade suggest limited effects on output and inflation, but also only a limited contribution to reaching the EU’s targets to reduce carbon emissions.
4/4
A central bank’s words matter as much as its actions, as changes in tone can point to shifts in monetary policy. We have measured and compared the tone of policy communication used by the ECB and the US Fed. #TheECBBlog describes our findings
https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230809~f101598a82.en.html
What do consumers in the euro area expect will happen to inflation, their incomes, their spending and the value of their homes 12 months from now? We’ve published the latest results of our Consumer Expectations Survey.
Press release https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230808~de1c74e79e.en.html
🧵People’s perceptions of housing as a good investment began to deteriorate before the recent decline in housing investment in the euro area, our #EconomicBulletin finds. The analysis draws on responses to our Consumer Expectations Survey https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202305_01~755244b08d.en.html
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Re People perceive housing as an investment differently depending on their demographic and economic characteristics. On average, older consumers, males and financially stronger households show a greater willingness to invest in housing than younger consumers and females
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Re Expectations of higher inflation, lower economic growth and, in particular, higher mortgage rates have weighed heavily on people’s perceptions of housing as a good investment since mid-2021
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Measures of underlying inflation are historically high, but are showing signs of easing, our #EconomicBulletin finds. Underlying inflation developments are a key input for our monetary policy assessment, especially in today’s highly uncertain environment https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202305_05~84e89bcb5d.en.html
What’s making inflation hard to tackle? And what will determine how prices and wages develop?
Host @katieranger_ gets to the bottom of this with our Chief Economist Philip R. Lane in the first episode of #TheECBPodcast’s Summer School mini-series https://pod.link/ecbpodcast/episode/257f6b6e371c39482c5d5f25513ec584
Our environmental statement outlines what we do each year to reduce the impact our operations have on the environment.
In 2022 we continued to improve our environmental performance!
Read the full statement https://www.ecb.europa.eu/ecb/climate/green/html/ecb.environmentalstatement202307~59d31f2afe.en.html
Where does the digital euro project currently stand? Why does Europe need a digital euro and who would be able to use it?
We’ve updated the digital euro FAQ, available on our website in all EU 🇪🇺 languages https://www.ecb.europa.eu/paym/digital_euro/faqs/html/ecb.faq_digital_euro.en.html
Coming up at 11:00 CET: Executive Board member Fabio Panetta speaks about inflation, disinflation and the calibration of monetary policy at @UniBocconi.
Follow live https://baffiwebinar.liveforum.space/
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Università Bocconi: Join us today at 11am CET for a webinar with Fabio Panetta, member of the @ecb Executive Board, discussing disinflation
Link👉 https://baffiwebinar.liveforum.space
https://www.viasarfatti25.unibocconi.eu/notizia.php?idArt=25645
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🧵 With rates now firmly in restrictive territory, we need to calibrate our monetary policy in a way that brings inflation back to target in a timely way while avoiding unnecessary harm to the economy.
Speech https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230803~30bdb2c935.en.html
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Re Panetta: We rapidly increased rates to fight inflation, but the balance of risks is now shifting:
1️⃣ disinflation is happening
2️⃣ price pressures are diminishing
3️⃣ the economic outlook is deteriorating
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Re Panetta: Monetary policy may operate not just by raising rates but also by keeping the prevailing level of policy rates for longer.
A stance that incorporates persistence offers greater scope to flexibly adjust our policy in light of the incoming data.
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How did euro area bank interest rates evolve in June? How do they compare with May’s figures? Find out more in the press release https://www.ecb.europa.eu/press/pr/stats/mfi/html/ecb.mir2308~adf9fccc8e.en.html
Policymakers should focus on preserving bank resilience to strengthen macroprudential stability in times of economic uncertainty. This would ensure sufficient capital buffers if widespread losses arise, writes Vice-President Luis de Guindos in #TheECBblog https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230802~5c22c72b25.en.html
We’ve just taken our latest monetary policy decisions, determining what’s needed to achieve stable prices in the euro area.
Tune in to #TheECBPodcast to hear President Christine @Lagarde present the decisions in our press conference https://soundcloud.com/europeancentralbank/20230727monetarypolicystatement
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
