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Euro exchange rate policy in the face of currency coercion threats
This paper outlines the European Union’s institutional framework for defining and executing an active euro exchange rate policy, against the backdrop of a potential policy shift by the United States. It outlines the emerging US debate on linking exchange rate policy with trade and security objectives and provides a background on past currency interventions by US and other central banks such as the Plaza Accord. The final part opens a discussion over the functioning and limits of the EU’s legal framework ...
Europska monetarna politika
Europski sustav središnjih banaka (ESSB) obuhvaća Europsku središnju banku (ESB) i nacionalne središnje banke svih država članica EU-a. Glavni je cilj ESSB-a održati stabilnost cijena. Kako bi se taj cilj ostvario, Upravno vijeće ESB-a donosi odluke na temelju integriranog analitičkog okvira te provodi kako standardne tako i nestandardne mjere monetarne politike.
Monetary Policy Expert Panel Quarterly Survey: 2025 Q1
This paper presents the aggregated results of a survey conducted among Members of the Monetary Policy Expert Panel (MPEP) ahead of the March 2025 Monetary Dialogue with ECB President Christine Lagarde. The opinions expressed in this document are the sole responsibility of the survey respondents and do not necessarily represent the official position of the European Ϸվ, the Members of the ECON Committee or the EGOV Unit.
Euro area monetary policy: Quarterly overview, March 2025
In this issue... ● US President Trump starts enacting his economic policy agenda and threatens the EU with tariffs. ● Headline inflation falls to 2.4% as underlying indicators ease. ● ECB reduces key policy rate by 25 bps. ● The euro continues to strengthen against the dollar amid growing uncertainty on US’s tariffs. ● The Fed keeps rate unchanged among economic uncertainty while challenges to independence arise. ● ECB reckons new US approach to cryptos and CBDCs strengthens the case for ...
EGOV 2024 Annual Activity Report
Euro area monetary policy: Quarterly overview, December 2024
This briefing paper was prepared ahead of the Monetary Dialogue between the Committee on Economic and Monetary Affairs (ECON) and the European Central Bank (ECB) President. It provides a summary of key monetary policy developments and decisions taken by the ECB’s Governing Council.
2024 IMF Annual Meetings: main developments and outcomes
The Annual Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF) convene finance ministers and central bank governors to participate in the highest-level decision-making bodies of the two institutions, as well as in various committees and groups that drive the agenda on issues related to the international monetary system and development policy. The 2024 Annual Meetings took place in Washington, D.C. from 21 to 26 October 2024. This paper summarises the main developments and ...
IMF Lending to Ukraine: State of Play and the Road Ahead
This paper provides an overview of the International Monetary Fund (IMF)’s lending to Ukraine, particularly focusing on the IMF response to the Russia’s invasion of Ukraine since February 2022, given the challenging macroeconomic circumstances. If further analyses the key elements of the IMF’ Extended Fund Facility (EFF) programme for Ukraine, including the evolution of core assumptions, risks, fiscal sustainability and conditionality.
Euro area monetary policy: Quarterly overview, September 2024
This briefing paper was prepared ahead of the Monetary Dialogue between the Committee on Economic and Monetary Affairs (ECON) and the European Central Bank (ECB) President on Monday, 30 September. It provides a summary of key monetary policy developments and decisions taken by the ECB’s Governing Council.
Euro area monetary policy: Quarterly overview, July 2024
This briefing paper provides a summary of key monetary policy developments and decisions taken by the ECB’s Governing Council.