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 when deficits respond at unchanged policies to the economic ...more »

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 Purchase Programme (‘APP’) announced by the ECB in January ...more »

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 Commission. Its main tasks are to identify and recommend ...more »

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 13-14 June 2018. Financial market developments The slope ...more »

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) da applicare alle esposizioni verso residenti in paesi che ...more »

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 and 2019, while unchanged for 2020; longer-term ...more »

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 unchanged at 0.00%, 0.25% and -0.40% respectively. The ...more »

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 recently came to public attention. For example, commentators ...more »

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 participants and other stakeholders with the FSB’s views ...more »