ECB: sovereign market stress beyond credit spreads

The European Central Bank (ECB) recently issued a working paper which attempts to construct a measure of stress for European sovereign bond markets detaches itself from the use of sovereign bond spreads. Quantifying stress in sovereign... more »

ECB: Interest rate spreads and forward guidance

The European Central Bank (ECB) published a research paper aimed at assessing the effects of forward guidance – the communication of central banks about the likely future course of their monetary policy stance – on the conduct of monetary... more »

ECB: Economic policymaking and population ageing

The “la Caixa” Chair for Economics and Society conference held in Madrid on October 17 was an occasion for Peter Praet, Member of the Executive Board of the European Central Bank (ECB), to discuss the consequences of population ageing for... more »

Eurogroup countries discusses national automatic stabilisers

As part of its thematic discussions on growth and jobs, the Eurogroup of 1 October will discuss the role of national 'automatic stabilisers' within the economic and monetary union. Public finances play an automatic stabilising role... more »

EU Court of Justice validates the BCE purchase program on secondary markets

By decision of 4 March 2015, the European Central Bank (ECB) put in place a secondary markets public sector asset purchase programme (‘PSPP’). The PSPP is one of the four sub-programmes of the Expanded Asset... more »

ESTER to replace EONIA as the risk free rate

The working group on euro risk-free rates is an industry-led group established in 2018 by the European Central Bank, the Belgian Financial Services and Markets Authority (FSMA), the European Securities and Markets Authority (ESMA) and the European... more »

Financial, economic and monetary developments in the Eurozone

The Governing Council of the European Central Bank, held in Frankfurt am Main on the 25-26 July 2018, reviewed the latest financial, economic and monetary developments since the Governing Council’s previous monetary policy meeting on... more »

Banca d’Italia: identificazione dei paesi terzi rilevanti per il CCB

Nel dicembre 2015 lo European Systemic Risk Board (ESRB) ha emanato una raccomandazione per favorire l'uniformità delle decisioni dei singoli Stati membri relative al coefficiente della riserva di capitale anticiclica (CCB)... more »

ECB: results of the survey on 2018:Q3 forecasts of the real economy

The European Central Bank (ECB) released the results of the 2018:Q3 predictions on macroeconomic conditions in the Euro Zone. The main findings are summarized in three points: HICP inflation expectations revised upwards for 2018... more »

ECB: Monetary Policy Decisions

The Governing Council of the ECB met on July 26th to update decisions concerning monetary policy across the monetary union.The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain... more »