ECB: Results of the Q1 2019 Survey of Professional Forecasters

Respondents to the ECB Survey of Professional Forecasters (SPF) for the first quarter of 2019 reported point forecasts for annual HICP inflation averaging 1.5%, 1.6% and 1.7% for 2019, 2020 and 2021, respectively. These results represent... more »

Nuovi tassi benchmark

Commissione AIFIRM Rischi di Mercato

I tassi IBOR svolgono un ruolo fondamentale nei mercati finanziari: in particolare il LIBOR è il tasso di interesse predominante per i contratti (ad esempio interest rate swap, mutui, obbligazioni a... more »

BIS: Global Banking, Financial Spillovers and Macroprudential Policy Coordination

There is growing evidence that international financial spillovers have become a two-way street. They occur not only from the major advanced economies to the rest of the world, but also, and increasingly, from a group of... more »

Pillole dal Rapporto di Stabilità Finanziaria di Banca d’Italia

di Emilio Barucci

Il Rapporto di Stabilità Finanziaria pubblicato da Banca d’Italia (BDI) a fine 2018 contiene alcuni dati interessanti: Credito bancario. Secondo le previsioni, il credito... more »

ECB: the forward guidance puzzle and its implications for optimal monetary policy

The European Central Bank (ECB) issued a working paper that discusses the implications for optimal monetary policy when rates are at (or close) to their effective lower bounds. In these cases, central banks... more »

Banca d’Italia: fissato il CCyB per il primo trimestre 2019

Sulla base dell’analisi degli indicatori di riferimento la Banca d’Italia ha deciso di mantenere il coefficiente della riserva di capitale anticiclica allo zero per cento per il primo trimestre del 2019. In... more »

ECB: Understanding the slowdown in growth in 2018

Growth in economic activity has moderated significantly in the euro area since the end of 2017. Indeed, quarter-on-quarter GDP growth in the euro area fell to 0.2% in the third quarter of 2018, down from 0.7% in the fourth quarter of 2017. This box... more »

FSB: Regional Consultative Group for the CIS

Today, the Central Bank of Armenia hosted the eighth meeting of the Financial Stability Board (FSB) Regional Consultative Group for the Commonwealth of Independent States (RCG for the CIS) in Yerevan. Members of the RCG for the CIS were informed of the... more »

FSB issues its 5th annual report

The Financial Stability Board (FSB) issues its fifth annual report, that provides an update on the key activities of the FSB and its audited annual financial statements for the 12-month period ended 31 March 2018. The report provides an update on the FSB’s work... more »

ECB: Euro area financial stability environment has become more challenging

The latest Financial Stability Review  of the European Central Bank (ECB) says that the euro area financial stability environment has become more challenging since May. Among the major concerns, the following has been... more »