ECB Monthly Bulletin | September 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
  • Exchange rate and balance of payments
    developments
  •  Boxes
    • Sectoral money holdings and the information content of money with respect to inflation
    • Liquidity conditions and monetary policy operations from 10 May 2006 to 8 August 2006
    • Why have listed non-financial corporations in the euro area increased their cash holdings over the last three years?
    • Assessing recent movements in consumers’ inflation expectations
    • Recent developments in total hours worked in the euro area
    • ECB staff macroeconomic projections for the euro area
• 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