2 February 2026 Firms reported a net tightening in bank loan interest rates and in other loan conditions related to both price and non-price factors. Financing needs rose modestly, accompanied by a small perceived decline in availability. Inflation expectations were broadly unchanged across horizons, with firms continuing to report upside risks to their long-term inflation outlook. The use of artificial intelligence is widespread among euro area firms, though most firms use it very infrequently or moderately. In the most recent...

Today, the 27 EU member states formally adopted the regulation on phasing out Russian imports of both pipeline gas and liquified natural gas (LNG) into the EU. The new rules also include measures on effective monitoring and diversification of energy supply. The regulation is a key milestone in delivering the REPowerEU objective of ending the EU’s reliance on Russian energy. "As of today, the EU energy market will be stronger, more resilient and more diversified. We are breaking away from detrimental...

Today, the European Commission has started two sets of specification proceedings to assist Google in complying with its obligations under the Digital Markets Act (‘DMA'). The specification proceedings formalise the Commission's regulatory dialogue with Google on certain areas of its compliance with two DMA obligations. The first set of proceedings concerns Google's obligation under Article 6(7) of the DMA to provide third-party developers with free and effective interoperability with hardware and software features controlled by Google's Android operating system. Today's...

Oral Conclusions by President António Costa following the Informal meeting of the members of the European Council, 22 January 2026 The European Union and the United States have long been partners and allies. We have built a transatlantic community forged by history, anchored in common values, and dedicated to the prosperity and security of our peoples. We believe that relationships between partners and allies should be managed in a cordial and respectful way. Europe and the United States have a shared interest...

22 January 2026 Geoeconomic fragmentation and geopolitical risk have become key sources of macro-financial uncertainty, which can affect financial stability Geopolitical shocks can amplify financial stress and dampen economic growth Report sets out new monitoring framework integrating geopolitical indicators into financial stability analysis The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) today published a joint report entitled “Financial stability risks from geoeconomic fragmentation” with technical annex, which examines how rising geopolitical risks and heightened uncertainty can affect...

The European Commission proposed the Digital Networks Act (DNA) to modernise, simplify and harmonise EU rules on connectivity networks. The current rules must be updated to create the conditions for operators to invest into rolling out advanced fibre and mobile networks. High-capacity networks enable innovative tech, like Artificial Intelligence and Cloud. The widespread availability of advanced connectivity for people and businesses across the EU is the foundation of Europe's competitiveness. Strengthening the single market for connectivity The proposal aims at creating...

Blog Post by  Tobias Adrian and Pierre-Olivier Gourinchas Global Economy Shakes Off Tariff Shock Amid Tech-Driven Boomrisks are rising, including from the concentration of tech investment and the negative effects of trade disruptions, which may build over time. Global economic growth continues to show notable resilience despite significant US-led trade disruptions and heightened uncertainty. Our latest projections indicate that global growth will hold steady at 3.3 percent this year, an upward revision of 0.2 percentage points compared to October estimates, with most of the...