Monetary developments in the euro area: February 2016 • The annual growth rate of the broad monetary aggregate M3 stood at 5.0% in February 2016, unchanged from the previous period. • The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight deposits, decreased to 10.3% in February, from 10.5% in January. • The annual growth rate of loans to households stood at 1.6% in February, after 1.4% in January. • The annual growth rate of loans to...

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An export-led economic recovery in 2014-15 raised employment and private consumption and strengthened Slovenia’s external position. Financial stability has improved. However, decisive policy action is required to address significant constraints to growth and mitigate important vulnerabilities. In particular, further measures to repair balance sheets of small and medium enterprises (SME) would help stimulate private investment. A comprehensive fiscal adjustment package is needed to reduce public debt, create room to absorb potential adverse shocks, and prepare for coming demographic challenges....

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The International Monetary Fund (IMF) today published the paper “The Adequacy of the Global Financial Safety Net,” which the IMF’s Executive Board discussed during an informal session as part of the Fund’s ongoing review of the international monetary system. The paper assesses the strengths, weaknesses and challenges of the Global Financial Safety Net (GFSN) –comprised of international reserves, central bank swap arrangements, regional financing arrangements, Fund resources (complemented by other multilateral and bilateral development partners), and market-based instruments. The paper...

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Brussels, 22 March 2016 I would like to express my deepest sympathy to the people of Brussels, to the many wounded, to the families and loved ones of those cruelly hit by the explosions this morning at Zaventem airport and Maelbeek Metro Station. I would also like to express my full support for and solidarity with the Belgian authorities. I commend the security forces, emergency services and all those who have helped victims and are still doing so now. I would like...

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March 2016 Monetary policy Non-standard monetary policy measures On 10 March 2016 the Governing Council decided on a number of measures in the pursuit of its price stability objective. This set of measures encompasses, inter alia, the launch of a corporate sector purchase programme as an additional component of the asset purchase programme (APP), an increase in the combined monthly purchases under the APP to €80 billion, starting in April 2016 and the launch of a new series of four targeted longer-term...

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Initial findings from the Commission's e-commerce sector inquiry show that geo-blocking is widespread in the EU. This is partly due to unilateral decisions by companies not to sell abroad but also contractual barriers set up by companies preventing consumers from shopping online across EU borders. The European Commission has published initial findings on the prevalence of geo-blocking which prevents consumers from purchasing consumer goods and accessing digital content online in the European Union. The information was gathered by the Commission...

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Today the Commission is opening a call for proposals under the Connecting Europe Facility (CEF) to help finance key EU energy infrastructure projects. €200 million will be made available for projects aiming to eliminate bottlenecks that prevent the free flow of energy across EU countries. Once finalised, these projects will contribute towards the completion of an EU internal energy market and the creation of a resilient Energy Union. This EU money is expected to act as a catalyst to speed...

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Today's approval of ten TEN-T Major Projects from the 2014-2020 financing period means new opportunities for jobs and growth Today the European Commission has approved ten major projects worth €3.3 billion for the construction of approximately 330km of new express roads in Poland. The projects will receive contributions from the Cohesion Fund of €1.2 billion and €493 million from the European Regional Development Fund (ERDF). Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness, said: "Transport infrastructure is one of the...

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