ECB Monthly Bulletin | September 2000

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
  • Growth and inflation forecasts by various institutions
  • The global macroeconomic environment, exchange rates and the balance of payments
  • Boxes:
    • Implications of the UMTS auctions for monetary and financial developments
    • Monetary policy operations and liquidity conditions in the reserve maintenance period ending on 23 August 2000
    • Recent developments in long-term interest rate differentials between the United States and the euro area
    • Trends in euro area services price developments
    • Revisions to employment figures
    • The sale of mobile telephone licences: impact on fiscal developments
    • General government fiscal position in the euro area:
      a new presentation
• 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 (ECB)