ECB Monthly Bulletin | January 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
  • Boxes:
    • 1 The recent weakness in world trade
    • 2 Money growth and uncertainty
    • 3 Recent improvement in the euro area’s international investment position
    • 4 The impact of the first three-year longer-term refinancing operation
    • 5 The evolution of consumer prices for oil products in 2011
    • 6 Factors limiting the scope available for increases in domestic prices
    • 7 Revised activity classification (NACE) in national accounts
• Articles
  • The interplay of financial intermediaries and its impact on monetary analysis
  • Towards an integrated European card payments market
• Euro Area Statistics
• Annexes
  • Chronology of monetary policy measures of the Eurosystem
  • Publications produced by the European
  • Central Bank VII
  • Glossary

• Primary Source

• Alternative Source