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: Motor vehicle sector - explaining the drop in output and the rise in prices https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_02~5bde8eeff0.en.html
The euro area’s current account balance with Russia reached a record deficit of 0.5% of euro area GDP in the second quarter of 2022. This was mainly due to price increases for imported energy and the impact of EU sanctions on exports https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_08~4f1967995f.en.html #EconomicBulletin
RT @ecb: Inflation excluding energy and food rose to 4.8% last month. As monetary policy works mainly via the demand channel, we analysed price changes of individual items to find out how supply and demand shocks are contributing to rising prices https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_07~8b71edbfcf.en.html #EconomicBulletin
The latest Economic Bulletin is out! The Economic 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/eb202207.en.html
For central banks around the world, fighting climate change and fighting inflation can go hand-in-hand. Greening our economies faster reduces the costs of transition to a low-carbon economy and helps ensure price stability in the long run.
Read #TheECBblog https://www.ecb.europa.eu/press/blog/date/2022/html/ecb.blog221109~6ad307c8cf.en.html
As inflation increased in 2021, so did inflation expectations, our Consumer Expectations Survey shows. But euro area consumers expect inflation to slow down in the coming year and return closer to 2% in the medium term https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_06~9effede808.en.html #EconomicBulletin
Euro area governments have taken measures to lessen the impact of high inflation on people, but these are still seen as insufficient, particularly by low-income groups. This suggests there’s still room for improvement in the way support measures are targeted
3/3
Poorer people in the euro area tend to spend a larger share of their income and save less, making them more vulnerable to the effects of high inflation. They also spend more of their income on essential goods, such as food, electricity and gas
2/3
🧵 High inflation in the euro area is affecting people with low and high incomes differently.
Surveys reveal two areas where these effects are clear:
➡️spending patterns
➡️ability to save and borrow money
https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_04~a89ec1a6fe.en.html #EconomicBulletin
1/3
All progress on climate change should be celebrated, says Executive Board member @FrankElderson. But progress is a means to an end. And that end can only be practices and policies in full accordance with a Paris Agreement-compatible transition path https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221109~e0c1f2520d.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/2022/html/ecb.pr221109~f083bbf671.en.html
The digital euro is a common European project, President @Lagarde says at the joint @ecb and @EU_Commission Digital Euro Conference. It would ensure that money and payments remain trusted, secure and efficient in a rapidly changing digital environment https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221107~dcc0cd8ed9.en.html
Climate change matters to us all. It affects our planet, our economy and our livelihoods. So what are we working on at the ECB to help address the issues?
To find out, join our virtual lecture on Friday, 11 November at 14:00 CET.
During the pandemic risk-sharing mechanisms in the euro area proved to be stronger than in earlier crises. Further improving the architecture of our monetary union is central to increasing the euro area’s capacity to deal with shocks https://www.ecb.europa.eu/pub/economic-bulletin/articles/2022/html/ecb.ebart202207_01~f71f0eaa4a.en.html #EconomicBulletin
Interest rates are rising. We’re asking banks to better manage and monitor interest rate risk to avoid past mistakes, says Supervisory Board Chair Andrea Enria. Higher rates boost profitability but can reduce banks’ asset quality and net worth.
Reducing inflation is the best way for a central bank to contribute to future growth, Vice-President Luis de Guindos tells @politico. We will continue raising rates to bring inflation back into line with our definition of price stability.
https://www.ecb.europa.eu/press/inter/date/2022/html/ecb.in221108~9b612bd17f.en.html
Risks to the banking sector have increased with the substantial uncertainty of the current environment, says Supervisory Board Chair Andrea Enria at an exchange of views with the Eurogroup. Banks must be prepared for challenges in the near term.
At our annual Conference on Money Markets, we discussed topics including key developments in money markets, monetary policy implementation and central bank operational frameworks.
Watch all the sessions here https://www.ecb.europa.eu/pub/conferences/html/20221103_money_markets_conference.en.html
Economic Bulletin box: Supply bottlenecks and price pressures in euro area goods trade and tourism https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_01~cd275e145d.en.html
Keeping prices stable is our primary objective, writes President Christine @Lagarde on #TheECBblog. To achieve this, we need to understand all the factors affecting inflation. Climate change is one of them, given its significant effect on our economy https://www.ecb.europa.eu/press/blog/date/2022/html/ecb.blog221107~1dd017c80d.en.html
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
