Growth picking up but inflation remains subdued The euro area economy is growing, supported by monetary policy. Confidence in the economy is strong, and investment and employment are both growing. On the other hand, there still remain problems from the financial and debt crises, and the pace of structural reform has slowed. Share Email Twitter Facebook Linkedin Google+
Forecast: Upswing in the global economy The global economy is experiencing brisk, broadly based growth in the current year. World trade is undergoing a growth spurt. At the same time, inflation remains sluggish. Share Email Twitter Facebook Linkedin Google+
What if China’s economic growth were to slow substantially? How would a rapid but controlled restructuring of China’s economy or a sudden halt to debt-driven growth affect the Chinese and euro area economies? Share Email Twitter Facebook Linkedin Google+
US Federal Reserve normalising its monetary policy stance The US economy has recovered from the financial crisis. Beginning in October, the Fed will reduce the holdings of securities on its balance sheet that it had purchased in its securities purchase programmes. Share Email Twitter Facebook Linkedin Google+
Changes in the economy challenge traditional methods of evaluating monetary policy A number of variations can be formed of the Taylor rule, all of which are simplifications. Monetary policy decisions cannot, however, be taken solely on the basis of simple rules. Share Email Twitter Facebook Linkedin Google+
Weak productivity a drag on global economy Labour productivity growth has slowed in many advanced economies. Is this phenomenon temporary or permanent, and what is the cause? Share Email Twitter Facebook Linkedin Google+
Editorial: Accommodative monetary policy to continue until a sustained adjustment in the path of inflation is reached The amount of underutilized domestic capacity is expected to gradually be taken up, and the global economy's generally favourable outlook will support growth in the euro area. Together these factors support expectations that the inflation rate will slowly return to the policy objective. Share Email Twitter Facebook Linkedin Google+
Are market expectations in line with the forward guidance of the ECB? By promising low interest rates in the future, a central bank can provide stimulus for the economy today. The effectiveness of this kind of forward guidance can be assessed by the impact it has on market expectations regarding interest rates. Share Email Twitter Facebook Linkedin Google+