ECB Monthly Bulletin | December 2013

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
    • Box 1 Factors underlying China’s growth performance and prospects
  • Monetary and financial developments
    • Box 2 Recent developments in the financial account of the euro area balance of payments
    • Box 3 Liquidity conditions and monetary policy operations in the period from 7 August 2013 to 12 November 2013
    • Box 4 Sectoral contributions to rebalancing within the euro area
  • Prices and costs
    • Box 5 Are sub-indices of the HICP measures of underlying inflation?
  • Output, demand and the labour market
    • Box 6 The effect of the crisis on employment and wages in non-market services
  • Fiscal developments
    • Box 7 Fiscal consolidation in the euro area: past progress and plans for 2014
• Article
  • December 2013 Eurosystem 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
  • Publications produced by the European Central Bank
  • Glossary