Amid the widespread fallout in crypto markets following the collapse of a major crypto exchange, The ECB Blog takes a look at where we stand with Bitcoin. The value of bitcoin peaked at USD 69,000 in November 2021 before falling to USD 17,000 by mid-June 2022. Since then, the value has fluctuated around USD 20,000. For bitcoin proponents, the seeming stabilization signals a breather on the way to new heights. More likely, however, it is an artificially induced last gasp...

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A new data gaps initiative will play an important role in addressing climate-related data deficit A famous physicist once said: “When you can measure what you are speaking about, and express it in numbers, you know something about it”. Nearly 140 years later, this maxim remains true and is particularly poignant for policymakers tasked with addressing climate mitigation and adaptation. That’s because they face major information gaps that impede their ability to understand the impact of policies—from measures to incentivize cuts...

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22/11/2022 – The OECD releases today the latest mutual agreement procedure (MAP) statistics covering 127 jurisdictions and practically all MAP cases worldwide. These statistics form part of the BEPS Action 14 Minimum Standard and the wider G20/OECD tax certainty agenda to improve the effectiveness and timeliness of tax-related dispute resolution mechanisms. The 2021 MAP Statistics* show the following trends: Significantly more MAP cases were closed in 2021. Approximately 13% more MAP cases were closed in 2021 than in 2020, with both...

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Blog post by Philip R. Lane, Member of the Executive Board of the ECB | Identifying the medium-term inflation path in the current environment of high inflation, ongoing energy and pandemic-related shocks and the Russian invasion of Ukraine is a diagnostic challenge. In his ECB Blog post Philip R. Lane, Member of the ECB’s Executive Board, describes some of the key analytical issues involved. Summary This blog post describes the diagnostic challenges in identifying the medium-term inflation path in the current environment...

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Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Luke Heighton on 16 November 2022 | We’ve done a good amount of monetary policy normalisation, says Chief Economist Philip R. Lane in an interview with Market News. We will continue to raise interest rates until we’ve reached a level that will make sure inflation comes back to our 2% target in a timely manner. What do you expect December’s Eurosystem growth and inflation projections to...

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