ECB Monthly Bulletin | December 2001

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 developments in the euro area
  • Monetary and financial developments
  • Price developments
  • Output, demand and labour market developments
  • Fiscal developments
  • Eurosystem staff macroeconomic projections for the euro area
  • The global macroeconomic environment, exchange rates and the balance of payments
• Boxes:
  • Annual review of the reference value for monetary growth
  • Financing and financial investment of the non-financial sectors in the euro area during the first quarter of 2001
  • Monetary policy operations and liquidity conditions in the reserve maintenance period ending on 23 November 2001
  • Recent developments in sectoral stock price indices in the euro area and the United States
  • Euro area exports and imports of goods according to national accounts and external trade statistics
  • Carry-over effects on annual average growth rates of real GDP
  • Comparison with June 2001 Projections
  • Forecasts by other institutions
• Euro area statistics
• 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 (ECB)