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Transatlantic News
Transatlantic News
09
Jun
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...
09
Jun
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...
05
Jun
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...
05
Jun
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...
04
Jun
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...
04
Jun
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...
04
Jun
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...
03
Jun
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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