ECB Monthly Bulletin | June 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 Recent developments in labour force participation in the euro area and the United States
    • 2 Recent developments in international reserve holdings of central and eastern European non-euro area EU countries
    • 3 Developments in the financial account of the euro area balance of payments until March 2012
    • 4 Liquidity conditions and monetary policy operations in the period from 15 February to 8 May 2012
    • 5 Rebalancing of competitiveness within the euro area and its implications for inflation
    • 6 The forecast bias for euro area HICP inflation
    • 7 The 2012 macroeconomic imbalance procedure
    • 8 Business investment in 2012: evidence from short-term indicators and surveys
    • 9 Developments in longer-term growth expectations for the euro area
    • 10 Technical assumptions about interest rates, exchange rates, commodity prices and fiscal policies
    • 11 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