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Transatlantic News
Transatlantic News
11
Jun
Euro’s share across various indicators of international currency use largely unchanged at around 19%
Emerging challenges include initiatives promoting global use of cryptocurrencies
Upholding rule of law essential for maintaining, and potentially increasing, global trust in the euro
The international role of the euro remained broadly stable in 2024 and the euro held on to its position as the second most important currency globally. The share of the euro across various indicators of international currency use has been largely...
10
Jun
Ambitious climate targets that are underpinned by robust implementation and investment plans can provide economic opportunities, unlock investment, and support sustainable development and growth, while facilitating low-emission transitions, according to a new joint report by the OECD and the United Nations Development Programme (UNDP).
Investing in Climate for Growth and Development: The Case for Enhanced Nationally Determined Contributions (NDCs) shows that aligning climate policies with economic and social priorities can lead to higher global GDP, accelerated poverty reduction, improved energy security...
09
Jun
By Joseph Dalibon, Jean-Philippe Vion
Imagine a country where public funds are allocated arbitrarily rather than because of an analytical process or the government’s policy priorities. In such a country, contracts would be awarded on the basis of personal connections rather than through an open competitive tendering process. Accountability would be nonexistent. It sounds like a dystopian scenario, but it's a reality in places where the rule of law is weak. Good public financial management (PFM) hinges on a robust...
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...
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