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 »

ECB: Monetary policy and household inequality

The European Central Bank (ECB) published a working paper assessing the impact of monetary policy on households inequality across the Euro Area. Specifically, the study deals with the impact of the recently adopted  quantitative easing, on which... more »

FSB: reforms to interest rate benchmarks

The Financial Stability Board (FSB) has today published a statement on reforms to interbank offered rates (IBORs) and the development of overnight risk-free, or nearly risk-free, rates (RFRs) and term rates. The statement is intended to provide market... more »

BIS: Financial stability implications of a prolonged period of low interest rates

The Committee on the Global Financial System (CGFS) mandated a Working Group co-chaired by Ulrich Bindseil (European Central Bank) and Steven B Kamin (Federal Reserve Board of Governors) to identify and provide... more »

Decisions taken by the Governing Council of the ECB

Monetary policy: Non-standard monetary policy measures On 14 June 2018 the Governing Council decided that net purchases under the asset purchase programme (APP) would continue at the current monthly pace of €30 billion until the end of... more »

Curva dei rendimenti invertita? Questione di aspettative

di Cosimo Zangari e Federico Bartolozzi

«Thanks to Fed, an Inverted Yiled Curve is imminent» titolava, con toni allarmistici, pochi giorni fa un articolo di Brian Chappatta su Bloomberg [1], a seguito... more »

ECB: methodology for calculating Euro Short-Term Rate (ESTER)

The Governing Council of the European Central Bank (ECB) has decided on the final methodology for calculating the Euro Short-Term Rate (ESTER) – an overnight unsecured rate based entirely on money market statistical reporting (MMSR),... more »

BdI: coefficiente capitale anticiclico a zero per il Q3 – 2018

Banca d'Italia comunica la decisione di mantenere il coefficiente della riserva di capitale anticiclica allo zero per cento per il terzo trimestre del 2018. La decisione è stata presa sulla base dell'analisi degli indicatori di... more »

BIS: The likelihood of effective lower bound events

The Bank for International settlement published a research paper aimed at estimating the probability of an economy hitting its effective lower bound (ELB) on the nominal interest rate and of the expected duration of such an event for eight advanced... more »