The economic outlook for the euro area has deteriorated rapidly. The impact of Brexit on Europe as a whole is hard to predict. Another factor overshadowing the global economy is the trade dispute between the USA and China.
Funding banks via longer-term refinancing operations has been a key feature of ECB monetary policy in recent years. With the latest of these, the ECB has succeeded in encouraging banks to increase lending to the private sector.
The dominant position of the US dollar exposes other countries to changes in the economy and domestic policies of the United States. As the dollar has no realistic competitors, we cannot foresee any near-term change in its status.
This website saves on your device small data files known as cookies. These are divided into essential cookies and statistical ones. Essential cookies are always operational, as they allow use of the site and ensure data security.
The site does not use any cookies that identify the user.
Select ‘Approve cookies’ or click ‘Edit cookie settings’, read the additional information and tailor the cookies to your preferences.
Essential cookies enable the website’s data security and basic functions such as navigating around the site and the search function. Essential cookies do not gather any data that can identify a user of the site.
Statistical enhancement cookies help us develop the site to meet users’ needs. They gather data on e.g. users’ terminals, site visits and time spent on the site. Statistical cookies do not gather any data that can identify the user.