Chapter News

09 Jun
Chapter News

ECB | The rule of law as a constitutional pillar of European central banking

Keynote speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Italian constitutional court Introduction Thank you very much for inviting me. The writings, judgments and speeches of many among this distinguished audience have shaped our understanding of the rule of law. I find it a privilege – and slightly daunting – to address you today on such a fundamental issue. Today I am speaking to you as a central...

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09 Jun
Chapter News, New York Related News

NY Fed | Inflation Expectations Decline; Labor Market Expectations Improve

NEW YORK—The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the May 2025 Survey of Consumer Expectations, which shows that households’ inflation expectations declined at the short-, medium-, and longer-term horizons. Consumers’ recent pessimism about the labor market eased somewhat, while consumer debt delinquency expectations and expectations about one’s household financial situation improved slightly. The main findings from the May 2025 Survey are: Inflation Median inflation expectations decreased at all three horizons in May. One-year-ahead inflation expectations declined by...

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05 Jun
Chapter News

ECB | Monetary Policy Statement by President Christine Lagarde

Good afternoon, the Vice-President and I welcome you to our press conference. The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which we steer the monetary policy stance – is based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. Inflation is currently at around our two per...

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05 Jun
Chapter News

European Commission | New import surveillance tool to help EU prevent harmful trade diversion

The European Commission has set up a new surveillance tool to help protect the EU against sudden and potentially disruptive surges in imports. This system aims to prevent harmful trade diversion, which occurs when a significant amount of goods that cannot enter other markets due to high tariffs and other restrictions are redirected into the EU. By providing fact-based information building on customs data, the surveillance tool will enable the Commission to swifty identify any such import surges and...

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04 Jun
Chapter News

European Commission | 2025 European Semester Spring Package sets out guidance to boost EU competitiveness

The 2025 European Semester Spring Package analyses the key economic and social challenges across the EU and offers policy guidance to Member States with the aim of strengthening competitiveness, prosperity and resilience. To that effect, it includes country-specific recommendations (CSRs), and promotes reforms and investments aligned with these EU priorities. The policy guidance presented comes at a time of a particularly volatile trade and security environment. It is closely linked to the Competitiveness Compass, the Commission's five-year roadmap to boost the EU's resilience and...

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04 Jun
Chapter News

OECD Ministerial Council Outcomes

Ministers have concluded this week’s 2025 Council Meeting at Ministerial Level (MCM). Under the Chairmanship of Costa Rica, with Australia, Canada and Lithuania as Vice-Chairs, Ministers and high-level representatives met for discussions around the theme “Leading the Way towards Resilient, Inclusive, and Sustainable Prosperity through Rules-Based Trade, Investment and Innovation”.   Read the Statement of the Chair of the 2025 MCM. The MCM is the OECD’s highest-level forum, attended by Ministers of Finance, Economy, Foreign Affairs, Trade and other high-level representatives from OECD...

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04 Jun
Chapter News

European Commission | EU budget 2026: Providing crucial funding for EU priorities in times of global volatility

Today's proposal by the European Commission sets the 2026 EU budget at €193.26 billion, complemented by an estimated €105.32 billion in disbursements under NextGenerationEU. Building on the mid-term revision of the EU's Multiannual Financial Framework (MFF), next year's draft budget is designed to support strategic objectives, including support for Ukraine, competitiveness, migration management, security and defence, and strategic investments, while maintaining momentum on green and digital priorities. This budget proposal comes after a series of unpredicted developments over the 2021-2027...

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03 Jun
Chapter News

OECD | Global economic outlook shifts as trade policy uncertainty weakens growth

Global economic prospects are weakening, with substantial barriers to trade, tighter financial conditions, diminishing confidence and heightened policy uncertainty projected to have adverse impacts on growth, according to the OECD’s latest Economic Outlook. The Outlook projects global growth slowing from 3.3% in 2024 to 2.9% in both 2025 and 2026. The slowdown is expected to be most concentrated in the United States, Canada, Mexico and China, with smaller downward adjustments in other economies. GDP growth in the United States is projected to...

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03 Jun
Chapter News

IMF | A United Europe Can Shape the Global Economy

The European Union must unite to shape today’s global economy, rather than be shaped by it By Gita Bhatt, Head of Policy Communications, IMF Not many places match the European Union for quality of life. Its workers enjoy more time off than in many other regions, yet their living standards are among the highest. Its core values of solidarity are exemplified in social contracts that ensure the state will care for those who need it. Yet lately the EU has lost confidence in...

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02 Jun
Chapter News

OECD | Co-ordinated efforts needed to strengthen and diversify supply chains in response to elevated risks

Recent disruptions, transport network bottlenecks and rising concerns about economic security all point to the need to strengthen and diversify supply chains. However, simply re-localising all production within national borders would harm growth and undermine, rather than strengthen, supply chain resilience, according to a new OECD report. The OECD Supply Chain Resilience Review emphasises the importance of agile and effective risk management and offers evidence-based insights to strengthen supply chain resilience in the face of multiple complex global challenges, to help firms...

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