Women and men shop differently and have different perceptions of prices and inflation. This ECB Blog post examines how inflation expectations are formed and revised across gender and why that matters for central banks. Women tend to have higher inflation expectations than men. As these differences are well documented across the world, we have used results from the ECB’s new Consumer Expectations Survey (CES) to shed light on certain factors which can explain some of the gender inflation gap. And...

Financing of unprecedented EUR 1 billion built-to-sell construction facility including one of the biggest loans ever granted by the European Investment Bank (EIB) under a Project Finance structure EIB loan backed by the EU's new InvestEU programme Further loans from seven commercial banks More than EUR 2 billion project volume in total for entire renewable energy pipeline in Spain and Portugal with over 50 projects Aquila Clean Energy EMEA, the clean energy development platform in Europe of Aquila Capital, has...

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) issued today their Autumn 2022 joint risk report. The report highlights that the deteriorating economic outlook, high inflation and rising energy prices have increased vulnerabilities across the financial sectors. The ESAs advise national supervisors, financial institutions and market participants to prepare for challenges ahead. The post-pandemic economic recovery in Europe has dwindled as a result of the Russian invasion of Ukraine. Russia’s war on Ukraine and the disruptions in...

OECD labour markets bounced back strongly from the COVID-19 pandemic, but the global employment outlook is now highly uncertain according to a new OECD report. Russia’s war of aggression against Ukraine has caused lower global growth and higher inflation, with negative impacts on business investment and private consumption. The OECD Employment Outlook 2022 says that while labour markets remain tight in most OECD countries, lower global growth means employment growth is also likely to slow, while major hikes in energy and commodity prices...

Thank you minister, good afternoon everyone. It is a pleasure to be back in Prague. Thank you for hosting us in this beautiful city. As the minister already outlined, today's discussions in Ecofin focused on two main topics: financial support for Ukraine and our economic policy response to the war in Ukraine and its economic implications. As regards financial support for Ukraine, it is excellent news that ministers have endorsed the next part of our exceptional macro-financial assistance programme and agreed to provide...

Ceiling for remuneration of government deposits to remain at deposit facility rate (DFR) or euro short-term rate (€STR), whichever is lower, until 30 April 2023 Measure aims to preserve effectiveness of monetary policy transmission and safeguard orderly market functioning To preserve the effectiveness of monetary policy transmission and safeguard orderly market functioning, the Governing Council of the European Central Bank (ECB) today decided to temporarily remove the 0% interest rate ceiling for remunerating government deposits. Instead, the ceiling will...

Today, the Commission is proposing to fully suspend the EU's Visa Facilitation Agreement with Russia. A country like Russia, waging a war of aggression, should not qualify for visa facilitations as long as it continues conducting its destructive foreign policy and military aggression towards Ukraine, demonstrating a complete disregard to the international rules-based order. The suspension is in response to increased risks and threats to the Union's security interests and the national security of the Member States as result...

'High debt and rising interest rates put a premium on improved governance to anchor fiscal policy in EU member states.' Given the central role of fiscal policy in addressing both recent crises and future challenges, the call to reform fiscal governance in Europe resonates like never before. Fiscal policy provides essential support when households and firms are hit by large shocks, such as the pandemic, or when monetary policy is constrained. However, that requires healthy public finances. High debt and rising...