ECB Monthly Bulletin | December 2002

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 developments in the euro area
  • Monetary and financial developments
  • Price developments
  • Output, demand and labour market developments
  • Fiscal developments
  • Eurosystem staff macroeconomic projections for the euro area
  • The global macroeconomic environment, exchange rates and the balance of payments
• Boxes:
  • Annual review of the reference value for monetary growth
  • Financial investment of the non-financial sectors in the euro area in the second quarter of 2002
  • Monetary policy operations and liquidity conditions in the reserve maintenance period ending on 23 November 2002
  • Information content of the trading volume of EURIBOR futures
  • Activity in the euro area initial public offering market
  • The unemployment-vacancy relationship in the euro area
  • Comparison with June 2002 Projections
  • Forecasts by other institutions
  • Enhanced compilation of the euro area international investment position statistics for the 1999-2001 period
• Euro area statistics
• Chronology of monetary policy measures of the Eurosystem
• The TARGET (Trans-European Automated Real-time Gross settlement Express Transfer) system
• Documents published by the European Central Bank