ECB Monthly Bulletin | June 2014

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
    • Box 1 Recent developments in MFI loans to non-financial corporations, broken down by economic sector
    • 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 12 February 2014 to 13 May 2014
  • Prices and costs
    • Box 4 The role of global factors in recent developments in euro area inflation
    • Box 5 Risk of deflation?
  • Output, demand and the labour market
    • Box 6 Recent trends in household real disposable income
    • Box 7 Survey evidence on investment developments across SMEs and large firms
  • Fiscal developments
    • Box 8 Fiscal councils in EU countries
• Article
  • June 2014 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