Banque de France
BDF
Paper
Military buildup requires fiscal adjustments, impacting consumption and inequality
A Banque de France working paper analyzes the aggregate and distributional consequences of a permanent increase in government defense spending.
Focus
BDF
Paper
Euro area consumer prices adjusted more frequently during 2021-2024 inflation surge
A new Banque de France working paper documents that the monthly frequency of consumer price changes in the euro area rose to 12 percent in 2022 during the 2021-2024 inflation cycle.
BDF
Speech
Villeroy de Galhau: ECB vigilant on inflation amid high uncertainty
Banque de France Governor François Villeroy de Galhau affirmed the ECB's readiness to act if needed to anchor inflation expectations.
Latest
BDF
Paper
Banque de France revises growth and inflation outlook amid geopolitical uncertainty
The Banque de France published its March 2026 macroeconomic projections for France.
BDF
Decoder
Monetary policy fully transmitted to short-term debt market
A Banque de France study shows that European Central Bank monetary policy decisions are fully passed through to the short-term debt market within one month.
BDF
Paper
Disorderly climate transition risks 6.8 percent global equity correction
A delayed and uncoordinated climate transition could trigger substantial financial market losses, with global equities facing an average 6.8 percent correction.
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BDF
Paper
Monetary policy operations drive euro area TARGET balance fluctuations
A Banque de France article quantifies the impact of monetary policy operations on euro area TARGET balances since the euro's introduction.
BDF
Paper
Four factors explain France's persistently high saving ratio
A Banque de France research bulletin identifies four key factors contributing to France's historically high saving ratio since the end of the pandemic.
BDF
Data
French business activity stable in February, Q1 GDP forecast 0.2-0.3 percent amid rising geopolitical uncertainty
The Banque de France's Monthly Business Survey reports stable economic activity in February, with a Q1 GDP growth forecast of 0.2-0.3 percent.
BDF
Speech
Villeroy de Galhau urges transparency for private market stability
Banque de France Governor François Villeroy de Galhau outlined three conditions for the healthy development of private markets at the Bloomberg Forum on March 12, 2026.
BDF
Decoder
New method guides monetary policy amid economic uncertainty
The Banque de France proposes a statistical method to weigh multiple economic scenarios, rather than relying on a single forecast, to inform monetary policy decisions.
BDF
Decoder
New climate indicator helps companies align with Paris Agreement
The Banque de France is rolling out a free climate indicator to help companies assess their greenhouse gas emissions trajectory and climate risk exposure.