ECB Monthly Bulletin | June 2006

Summary:

The Monthly Bulletin was published from January 1999 to December 2014. The Monthly Bulletin was published one week after each monetary policy meeting of the ECB's Governing Council. It explained the monetary policy decision and provided a detailed analysis of the current economic situation and risks to price stability.

Table of Contents:

• Editorial
• Economic and Monetary Developments
  • The external environment of the euro area
  • Monetary and financial developments
  • Prices and costs
  • Output, demand and the labour market
  • Fiscal developments
  • Eurosystem staff macroeconomic projections for the euro area
  • Exchange rate and balance of payments developments
  • Boxes:
    • Measuring world growth: do weights matter?
    • Inflation forecasts derived from monetary indicators
    • Liquidity conditions and monetary policy operations from 8 February to 9 May 2006
    • Developments in the composition of euro area and US stock market indices
    • Profitability and leverage developments of listed non-financial corporations in the euro area
    • Nature of and developments in write-offs/write-downs of household loans in the euro area
    • Recent trends in residential property prices in the euro area
    • The reliability of estimates of euro area GDP growth and its components
    • Fiscal sustainability in stability programmes: assessment in ECOFIN Council opinions
    • Technical assumptions
    • Forecasts by other institutions
• Euro Area Statistics
• Annexes
  • Chronology of monetary policy measures of the Eurosystem
  • The TARGET (Trans-European Automated Real-time Gross settlement Express Transfer) system
  • Documents published by the European Central Bank since 2005
  • Glossary