Reports of the Phillips curve's death are greatly exaggerated Euro area inflation has been slow in recent years. The way slow inflation was explained before the crisis has been challenged. Share Email Twitter Facebook Linkedin Google+
The impact of the housing market on the Swedish economy Sweden's economy is performing well. However, if it were to deepen, the downward turn in house prices could cut the positive trend in the economy. Share Email Twitter Facebook Linkedin Google+
Euro countries recovered from crisis at different paces Following the steep contraction caused by the financial crisis, there have been substantial differences in economic performance across the different countries in the euro area. Healthy economic structures appear to have facilitated a speedier recovery. Share Email Twitter Facebook Linkedin Google+
Reinvestments in ECB’s expanded asset purchase programme The reinvestment of maturing holdings, i.e. the replacement of maturing holdings with new ones, is gradually becoming an increasingly important part of an appropriate monetary policy stance. Share Email Twitter Facebook Linkedin Google+
Expansionary economic policy boosts growth The favourable outlook for the global economy is overshadowed by the threat of protectionism. In the euro area growth has picked up. Some of this acceleration is on a sustainable basis, but long-term growth is likely to remain slower than pre-crisis growth. Share Email Twitter Facebook Linkedin Google+
Construction of a risk-based European Deposit Insurance Scheme Single deposit insurance is an important part of the completion of Banking Union. The deposit insurance fund needs to be sufficiently large to credibly withstand possible problem situations. Banks’ deposit insurance contributions should be calibrated based on risks. Share Email Twitter Facebook Linkedin Google+
Post-crisis monetary policy modelling In the aftermath of the global financial crisis many central banks cut their policy rates close to zero and introduced non-standard monetary policy measures. The new situation has also presented a challenge for monetary policy modelling. Share Email Twitter Facebook Linkedin Google+
How has the feedback loop between banks and sovereigns changed since the crisis years? The bank-sovereign nexus has weakened, but we cannot consider it to be broken. Share Email Twitter Facebook Linkedin Google+
Continued accommodative monetary policy supports the return of the inflation rate towards the price stability objective Euro area inflation remains subdued, but confidence in inflation converging towards the ECB's objective has strengthened. Owing to these uncertainties, the conduct of monetary policy in the euro area rests on patience, persistence and prudence. Share Email Twitter Facebook Linkedin Google+