ECB Monthly Bulletin | November 2011

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
  • Boxes:
    • 1 Recent developments in MFI loans to non-financial corporations broken down by economic sector
    • 2 Integrated euro area accounts for the second quarter of 2011
    • 3 Recent house price developments in the euro area
    • 4 Results of the ECB Survey of Professional Forecasters for the fourth quarter of 2011
    • 5 Recent evidence on the uncertainty surrounding real-time estimates of the euro area output gap
    • 6 Updating measures of euro area foreign demand to account for changes in the geographical structure of euro area exports
• Articles
  • House price developments in the euro area and the United States
  • Euro area markets for banks’ long-term debt financing instruments: recent developments, state of integration and implications for monetary policy transmission
• Euro Area Statistics
• Annexes
  • Chronology of monetary policy measures of the Eurosystem
  • Publications produced by the European
  • Central Bank
  • Glossary