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
Economic bulletin box: The role of public employment during the COVID-19 crisis https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202206_01~abbe041537.en.html
Credit rating agencies have made progress on climate risk but we still see room for improvement. Find out more about our efforts to assess how credit agencies take climate change into account https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op303~eaa6fe6583.en.pdf?26d23c18fd6af8516a0d3b1c86384422
We commit to ambitious standards for integrating climate-related risks into the in-house credit assessment systems of euro area central banks by 2024. This is part of our action plan to incorporate climate change in our monetary policy https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202206_06~d7f88f706f.en.html #EconomicBulletin
The latest Economic Bulletin is out!
The Bulletin presents the economic and monetary information which forms the basis for our policy decisions.
Read more https://www.ecb.europa.eu/pub/economic-bulletin/html/eb202206.en.html
We are doing whatever is needed to bring inflation back to our 2% target, Executive Board member @Isabel_Schnabel tells @tonline.
We need to continue raising interest rates as inflation is likely to remain high for some time despite a looming downturn
https://www.ecb.europa.eu/press/inter/date/2022/html/ecb.in220922~0f586d9078.en.html
Working Paper: A sensitivities based CoVaR approach to assets commonality and its application to SSM banks https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2725~8ecb5a7ea3.en.pdf
Working Paper: Will the green transition be inflationary? Expectations matter https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2726~3e04b5ba5d.en.pdf
The average nominal yields for long-term debt securities issued by euro area governments in the past year increased to 0.9% in August. The largest increases were in Germany, Greece, France, Italy, Cyprus, Lithuania, Luxembourg, Malta and Austria
https://sdw.ecb.europa.eu/browseTable.do?org.apache.struts.taglib.html.TOKEN=7f33735b6d0c7f627ee4c861d1268584&df=true&ec=1&dc=&oc=0&pb=1&rc=0&DATASET=0&removeItem=&removedItemList=&mergeFilter=&acti…
Climate-related taxes and spending represent only a small part of euro area governments’ budgets. Countries have set ambitious targets, but more measures are needed to mitigate the impact of climate change and reach net zero by 2050 https://www.ecb.europa.eu/pub/economic-bulletin/articles/2022/html/ecb.ebart202206_01~8324008da7.en.html #EconomicBulletin
We are determined to deliver price stability, and expect to raise interest rates further to achieve 2% inflation, says President @Lagarde. We must settle at a rate that ensures inflation returns durably to our target, as the economic environment evolves https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220920~c3afc1a441.en.html
Banks’ risk management practices should correspond to their risk-taking, says Supervisory Board member Elizabeth McCaul at the European Leveraged Finance Conference. Banks should properly identify, measure, manage and limit risks.
Read the full speech https://www.bankingsupervision.europa.eu/press/speeches/date/2022/html/ssm.sp220920~d41dede079.en.html
The distribution of longer-term inflation expectations of professional forecasters has recently recentred around 2%, according to our survey. But some respondents expect the current inflation spike to be more persistent https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202206_03~bba52a0a2a.en.html #EconomicBulletin
The euro area labour market has recovered considerably since the trough during the pandemic. And the participation rate of older workers is now increasing again
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The main reason for early retirement was poor health. This reflects people’s perceptions of greater health risks during the pandemic
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🧵 During the pandemic, fewer older people worked in the euro area, but the outbreak didn’t strongly affect their retirement decisions. Only around 175,000 retired earlier than planned https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202206_02~67d6677c0e.en.html #EconomicBulletin
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Euro area monthly balance of payments (July 2022) https://www.ecb.europa.eu/press/pr/stats/bop/2022/html/ecb.bp220920~c6a6760dcb.en.html
Occasional Paper: Enhancing private and public risk sharing https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op306~c71abf2194.en.pdf?a29025a9f5cc35e898d403d12ab990db
Mortgage rates have a big impact on housing market dynamics. A 1-percentage point increase in mortgage rates could lead to house prices declining by around 5% over roughly two years. The impact is even larger in a low interest rate environment
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🧵 Mortgage rates in the euro area have risen significantly since the beginning of 2022, after historical lows in 2021. Housing investment has also recovered quickly following the slump triggered by the pandemic https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202206_04~786da4a23a.en.html #EconomicBulletin
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How will we make our purchases greener? And how does this help the transition towards a greener economy? See our explainer about what decarbonising our corporate bond holdings means and how it contributes to the green transition. https://www.ecb.europa.eu/ecb/educational/explainers/html/decarbonising_corporate_bond_holdings.en.html
RT @ecb: We aim to decarbonise our corporate bond holdings, a key step in our climate action plan. This will…
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
