ECB Monthly Bulletin | September 2012

Author (Corporate)
Series Title
Series Details Number 9
Publication Date September 2012
ISSN 1725-2822
EC QB-AG-13-009-EN-N
Content Type , ,


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
    • Boxes:
      • 1 Monetary policy measures decided by the Governing Council on 6 September 2012
      • 2 Economic implications of the fiscal restraint in the United States in 2013
      • 3 The adjustment of monetary statistics for repurchase agreement transactions with central counterparties
      • 4 Developments in the financial account of the euro area balance of payments until June 2012
      • 5 Liquidity conditions and monetary policy operations in the period from 9 May to 7 August 2012
      • 6 Recent developments in food commodity prices and their implications for consumer food prices in the euro area
      • 7 ECB staff macroeconomic projections for the euro area
      • 8 The sustainability of government debt in Spain and Italy
  • 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
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