Thailand, Vietnam and other countries in the region face much higher tariffs on exports with Chinese-made components. But questions remain on how the U.S. defines a locally made product.
The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.
Greece’s trade deficit rose sharply by 33.2 percent year-on-year (YoY) in June, after a 31.6 percent drop in May, according to data released by ELSTAT on Thursday.
A flagship education policy of the New Democracy government is providing fodder for the opposition after the uptake for the first round of non-state university licenses appears to have vastly undershot its promises.
How does environmental, social and governance regulation of banks affect capital provision to the sustainability transition? As ambitious sustainability targets face funding challenges, the financial sector is tasked with channeling more private capital into sustainable investments. However, scaling sustainable technologies often requires investment in non-ESG-compliant assets. The mobility transition to electric vehicles, for example, demands increased supply of battery raw materials like Lithium, Cobalt, Manganese, and Nickel.
Add full abstract text in one paragraph.This paper examines how the ECB’s 2022–2023 interest-rate hikes affected euro-area banks’ economic net worth and vulnerability to deposit runs. Drawing on granular, confidential data for 139 banks, we estimate each bank’s economic net worth and find that unrealised losses on loans and bonds averaged around 30 per cent of equity. By September 2023, however, roughly half of these losses had been offset by gains from the deposit franchise and interest-rate swaps.
Add full abstract text in one paragraph.This paper examines how the ECB’s 2022–2023 interest-rate hikes affected euro-area banks’ economic net worth and vulnerability to deposit runs. Drawing on granular, confidential data for 139 banks, we estimate each bank’s economic net worth and find that unrealised losses on loans and bonds averaged around 30 per cent of equity. By September 2023, however, roughly half of these losses had been offset by gains from the deposit franchise and interest-rate swaps.
How does environmental, social and governance regulation of banks affect capital provision to the sustainability transition? As ambitious sustainability targets face funding challenges, the financial sector is tasked with channeling more private capital into sustainable investments. However, scaling sustainable technologies often requires investment in non-ESG-compliant assets. The mobility transition to electric vehicles, for example, demands increased supply of battery raw materials like Lithium, Cobalt, Manganese, and Nickel.
This article presents evidence from transactions data reported under the European Market Infrastructure Regulation (EMIR). Its aim is to assess the information content of euro area inflation-linked swap rates as measures of inflation compensation. It finds that both the breadth and the depth of overall activity have increased notably. The process of price discovery resulting from trading activity appears healthy on aggregate, and the sectoral composition of activity has shifted towards counterparties that can be deemed more responsive to changes in the inflation outlook.
EU government spending on defence is expected to increase in response to heightened geopolitical tensions. This increase underpins efforts towards reaching a higher NATO defence spending commitment, as agreed at the NATO summit of 24-25 June. This box explores the implications for the euro area baseline projections and the risks around the baseline, as reflected in the June 2025 Eurosystem staff macroeconomic projections.
