ECB Monthly Bulletin | December 2012

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
  • Boxes:
    • 1 Global trade: recent developments and short-term outlook
    • 2 Banks’ funding conditions and the financing of non-financial private sectors in the euro area
    • 3 Developments in the financial account of the euro area balance of payments until September 2012
    • 4 Liquidity conditions and monetary policy operations in the period from 8 August to 13 November 2012
    • 5 Recent euro area labour market developments in a historical context
    • 6 The role of fiscal multipliers in the current consolidation debate
    • 7 Technical assumptions about interest rates, exchange rates, commodity prices and fiscal policies
    • 8 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
  • Publications produced by the European
  • Central Bank
  • Glossary

• Alternative Source 1