ECB Monthly Bulletin | October 2005

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
  • Exchange rate and balance of payments developments
  • Boxes:
    • Recent developments in FDI in the new EU Member States in central Europe
    • The development of private equity and venture capital in Europe
    • Excess reserves and the ECB’s implementation of monetary policy
    • Recent oil and petrol price developments
    • Trade liberalisation and its impact on the euro area textile and clothing sectors
    • Output growth differentials within the euro area: are they cyclical or trend-driven?
    • Developments in euro area labour quality and their implications for labour productivity growth
• Articles
  • Money demand and uncertainty
  • Assessing the performance of financial systems
• Euro Area Statistics
  • Annexes
    • Chronology of monetary policy measures of the Eurosystem
    • Documents published by the European Central Bank since 2004
    • Glossary