Euro Area Policies PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Euro Area Policies PDF full book. Access full book title Euro Area Policies by International Monetary Fund. European Dept.. Download full books in PDF and EPUB format.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 103
Get Book
Book Description
The euro area economy has shown resilience in the aftermath of Russia’s invasion of Ukraine and the largest terms of trade loss in several decades, reflecting strong policy efforts to secure gas supplies and cushion disposable incomes. Nonetheless, activity has weakened, with the economy slipping into a mild technical recession in early 2023, and inflation is far above target. While headline inflation has started to decline with the easing of supply bottlenecks and energy prices, core inflation is proving more persistent. Euro area banks are well capitalized and liquid overall, but the rapid tightening of monetary policy after a prolonged period of accommodation can expose pockets of weakness in the financial system, including in the nonbank sector.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 103
Get Book
Book Description
The euro area economy has shown resilience in the aftermath of Russia’s invasion of Ukraine and the largest terms of trade loss in several decades, reflecting strong policy efforts to secure gas supplies and cushion disposable incomes. Nonetheless, activity has weakened, with the economy slipping into a mild technical recession in early 2023, and inflation is far above target. While headline inflation has started to decline with the easing of supply bottlenecks and energy prices, core inflation is proving more persistent. Euro area banks are well capitalized and liquid overall, but the rapid tightening of monetary policy after a prolonged period of accommodation can expose pockets of weakness in the financial system, including in the nonbank sector.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498325076
Category : Business & Economics
Languages : en
Pages : 61
Get Book
Book Description
After a sharp slowdown starting in 2018, euro area growth is expected to recover over the course of 2019. However, mounting downside risks from global trade tensions, a no-deal Brexit, and market concerns about countries with high public debt emphasize the precarious nature of the forecast. Even in the absence of a major shock, there is a danger that the area could enter a prolonged period of anemic growth and inflation. Policies should focus on supporting growth while also reducing vulnerabilities.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484369009
Category : Business & Economics
Languages : en
Pages : 64
Get Book
Book Description
This is a time to strengthen the resilience of the euro area and raise its long-term growth potential. Despite the recent slowdown and coming end of quantitative easing, growth remains strong and monetary conditions accommodative. Member countries should grasp the opportunity to address deep structural challenges, rebuild thin policy buffers, and rebalance externally. Mounting downside risks add urgency. The supportive monetary stance should be maintained until inflation is convincingly converging to objective. As net asset purchases draw to a close, clear forward guidance will become even more important.
Author:
Publisher:
ISBN:
Category : Euro
Languages : en
Pages : 74
Get Book
Book Description
Author: International Monetary Fund. European Dept.
Publisher: INTERNATIONAL MONETARY FUND
ISBN:
Category : Business & Economics
Languages : en
Pages : 86
Get Book
Book Description
Following a deep recession in 2020 and further contraction in 2021Q1, the euro area economy recovered rapidly in the second and third quarters thanks to high vaccination levels, increasing household and business adaptability to the virus, and continued forceful policy support. Looking ahead, while supply chain disruptions, elevated energy prices, and resurgences of Covid-19 cases—including those related to the Omicron variant—are likely to pose near-term headwinds to growth, the recovery is set to continue in 2022 as the impact of the pandemic on economic activity continues to weaken over time and supply-side constraints ease. Medium-term output losses relative to pre-crisis trends will vary significantly across countries and sectors as will the extent of labor market scarring. Price pressures are building up as production bottlenecks are set to persist for a while. However, inflation—despite increasing significantly in recent months due to transitory factors—is projected to moderate during 2022 and remain below the ECB’s inflation target over the medium term. Uncertainty surrounding the outlook remains high and largely related to pandemic dynamics and legacies, including induced behavioral and preference changes.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484312430
Category : Business & Economics
Languages : en
Pages : 66
Get Book
Book Description
The steady recovery and political developments provide an opportune moment for advancing much-needed reforms to strengthen the architecture of the Economic and Monetary Union. Pro-EU political parties have gained momentum, while strong private consumption and supportive policies have boosted growth. Unemployment is falling amid solid job creation, although it remains elevated in some countries. Productivity growth has been lagging in some countries, leading convergence across countries to stall and competitiveness gaps to persist. While the recovery has been resilient to shocks so far, risks remain and continued monetary policy support is required.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498342868
Category : Business & Economics
Languages : en
Pages : 52
Get Book
Book Description
This 2014 Article IV Consultation highlights that the euro area recovery is taking hold. Real output has expanded for four consecutive quarters, and financial market sentiment has improved markedly. Complementary policy actions have supported demand, boosted investor confidence, and eased financial conditions. At the national level, governments have made further progress repairing sovereign and bank balance sheets and implementing structure reforms to restore competitiveness. At the area-wide level, the ECB has taken a wider range of measures to support demand and address fragmentation. Over the medium term, there is a risk of stagnation, which could result from persistently depressed domestic demand owing to deleveraging, insufficient policy action, and stalled structural reforms.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498381251
Category : Business & Economics
Languages : en
Pages : 52
Get Book
Book Description
This 2014 Article IV Consultation highlights that the euro area recovery is taking hold. Real output has expanded for four consecutive quarters, and financial market sentiment has improved markedly. Complementary policy actions have supported demand, boosted investor confidence, and eased financial conditions. At the national level, governments have made further progress repairing sovereign and bank balance sheets and implementing structure reforms to restore competitiveness. At the area-wide level, the ECB has taken a wider range of measures to support demand and address fragmentation. Over the medium term, there is a risk of stagnation, which could result from persistently depressed domestic demand owing to deleveraging, insufficient policy action, and stalled structural reforms.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451813082
Category : Business & Economics
Languages : en
Pages : 63
Get Book
Book Description
This 2008 Article IV Consultation on euro area policies highlights that 10 years after its launch, monetary union is a distinct success and the euro area a zone of stability in the international economy. However, economic union remains work in progress. Improved wage setting and labor market reforms have contributed to the creation of some 16 million jobs over the past decade. Similarly, the single market program and product market reforms have raised productivity in affected sectors. The outlook for financial stability is highly uncertain, although the area’s financial system remains sound.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 148437262X
Category : Business & Economics
Languages : en
Pages : 46
Get Book
Book Description
This staff paper on euro area policy 2013 Article IV Consultation discusses economic development and policies. Severe market stresses have subsided, although private borrowing costs have remained too high in the periphery. In these economies, sovereign borrowing costs have declined from unsustainable levels. This has led to slightly lower private borrowing costs, spurring bond issuance among some banks, and firms. Capital flight has gradually eased, bank deposits have stabilized, and Target 2 imbalances have narrowed. This has contributed to some early repayment of official liquidity support by stronger banks, though largely from core countries. Still, periphery bank risks are significantly higher than in the core.
