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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
- Box 1 Towards a global convergence of natural gas prices?
- Box 2 China – short-term prospects and medium-term policy intentions
- Monetary and financial developments
- Box 3 Recent developments in the financial account of the euro area balance of payments
- Box 4 Liquidity conditions and monetary policy operations in the period from 8 May to 6 August 2013
- Box 5 Central bank balance sheet expansion and financial strength in crisis times: the case of the Eurosystem
- Box 6 Reactivating the European ABS market: challenges and possible remedies 48
- Box 7 ECB monetary policy during the fi nancial crisis and asset price developments 55
- Prices and costs
- Box 8 Recent developments in unprocessed food prices
- Output, demand and the labour market
- Box 9 Recent developments in the income account of selected euro area countries
- Box 10 ECB staff macroeconomic projections for the euro area
- Fiscal developments
- Box 11 Implementation of the excessive defi cit procedure under the reinforced Stability and Growth Pact in euro area Member States
- 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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