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
Executive Board member Philip R. Lane provides his latest assessment of the economic outlook and the ECB’s monetary policy in a discussion for the @FT’s Economists Exchange feature.
Read the full interview https://www.ecb.europa.eu/press/inter/date/2023/html/ecb.in230117~1ab0df6f3d.en.html
Results of the December 2022 Survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD) https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230113~887bc26773.en.html
Banks should be well prepared and maintain their counterparty credit risk at an acceptable level, says Supervisory Board Chair Andrea Enria. We will use all available supervisory tools to ensure they address weaknesses in their risk management promptly.
https://www.bankingsupervision.europa.eu/press/blog/2023/html/ssm.blog230113~625a66b402.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.pr230112~6cfbeda491.en.html
Economic Bulletin box: Liquidity conditions and monetary policy operations from 27 July to 1 November 2022 https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_06~f5b2196964.en.html
Our bank lending survey points to a deceleration of growth in loans to euro area firms and people for house purchases in the coming months. The survey gives us useful information for predicting future loan growth https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_07~5f7ba986d9.en.html #EconomicBulletin
Euro area firms report increasing financing gaps in the SAFE survey and expect a deterioration in the future availability of bank loans. Our analysis in the #EconomicBulletin shows that such conditions have historically foreshadowed lower GDP growth https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_05~e35e17c111.en.html
Croatia has joined the euro area! The country has met all the criteria, addressed macroeconomic imbalances and adopted policies aimed at ensuring price stability. The benefits will be clear both in the short and long term https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_02~15fd36600a.en.html #EconomicBulletin
The bond buying under the pandemic emergency purchase programme was key to stabilising markets, supporting monetary policy transmission and curbing risks to price stability. Our #EconomicBulletin reviews the benefits of this tool’s flexible implementation https://www.ecb.europa.eu/pub/economic-bulletin/articles/2023/html/ecb.ebart202208_01~bf0907fa1f.en.html
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/eb202208.en.html
Households and non-financial corporations in the euro area (Q3 2022) https://www.ecb.europa.eu/press/pr/stats/ffi/html/ecb.eaefd_early2022q3~270c75bc82.en.html
Euro area quarterly balance of payments and international investment position (Q3 2022)
https://www.ecb.europa.eu/press/pr/stats/bop/2023/html/ecb.bq230111~9ecf2a261d.en.html
Energy shocks had a different impact on individual consumption components. They barely affected services consumption, but they had a larger negative effect on the consumption of goods. High energy prices will continue to weigh on households’ purchasing power in the near term
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This recovery in private consumption resulted from several factors, including the loosening of pandemic-related restrictions and the easing of supply bottlenecks. But the sharp rise in energy prices hurts purchasing power and spending among households
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🧵The recent increase in people’s private consumption in the eurozone masks the different developments across individual consumption components. The rise was mainly supported by consumption of services, while consumption of goods fell https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_03~2ca54e2b1b.en.html #EconomicBulletin
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You can find the webcast on the Swedish page https://www.riksbank.se/
The green transition can only thrive with price stability, says Executive Board member @Isabel_Schnabel.
Higher interest rates should not be used as a scapegoat for government delays in implementing prior climate commitments.
Read her speech
https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230110~21c89bef1b.en.html
Governments in the euro area presented their spending plans for 2023, including energy-related support measures. Fiscal policies need to be targeted, temporary and attentive to debt sustainability to avoid fuelling inflationary pressures https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202208_08~8caa7063ac.en.html #EconomicBulletin
Yet inflation is expected to be higher in the United States over the coming two years. Above-target levels of inflation are expected to be more persistent in the United States, which may reflect the larger impact of domestic factors on inflation there
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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
