Bank specialization and the transmission of euro area monetary policy
Bank lending is a key channel through which monetary policy affects the real economy. This column explores how the effects of monetary policy on credit
Yen and euro struggle as Japan and France’s political dramas heat up
French political quagmire leaves euro at two-month lows. The yen stabilised on Friday but was still headed for its steepest weekly drop in a year
Interest rate and deposit run risk: New evidence from euro area banks in the 2022-2023 tightening cycle
Rising interest rates expose the interaction between hidden losses on long-duration assets and flighty uninsured deposits. This column uses confidential data for 139 euro area
Dollar steady before US inflation report, US-China tariff deadline
The euro was up less than 0.1% at $1.1652, while sterling was flat at $1.3462. The U.S. dollar was little changed on Monday before Tuesday’s
Sudden stops in the euro area
Internal balance-of-payment crises should be taken as a strong signal of weakness and a wake-up call to reform euro area structures The single currency was
The supply side of monetary policy: How floating-rate loans blunt the ECB’s fight against inflation
Central banks raise interest rates to reduce aggregate demand and bring inflation down. This column uses credit register data and product-level price data from the
Tariffs across the supply chain
Tariffs disrupt trade flows and influence prices, but their broader impact depends on how they are structured and the type of goods targeted. This column
