Banque de France
BDF
Paper
EU regions exhibit substantial heterogeneity in income smoothing capacity
A Banque de France working paper finds that EU households smooth approximately 30 percent of wage shocks, with significant regional variations.
Focus
BDF
Paper
Global economic cycles show price-quantity decoupling over 70 years
A new 70-year dataset reveals that global economic synchronisation primarily affects asset prices, while real economy variables like GDP and credit remain largely decoupled.
BDF
Decoder
Professional forecasters maintain high uncertainty for inflation and growth
Professional forecasters in the euro area expect inflation to be close to the 2 percent target in 2026.
Latest
BDF
Paper
Surveys reveal inflation and growth tail risks, stagflation reemerges
A Banque de France working paper evaluates inflation and growth risks using probabilistic responses from professional forecasters' surveys.
BDF
Press
French business activity strengthens in January, GDP growth projected for Q1
Activity across French industry, market services, and construction strengthened in January, surpassing business leaders' forecasts.
BDF
Decoder
French citizens increasingly adopt innovative payment methods in 2024
The use of innovative payment methods like instant credit transfers and mobile payments became firmly established in France during 2024.
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BDF
Speech
Villeroy de Galhau reflects on Banque de France tenure and future challenges
François Villeroy de Galhau, Governor of the Banque de France, announced his departure in June 2026 to lead the Apprentis d'Auteuil foundation.
BDF
Paper
Tariffs trigger economic contraction and inflation, monetary policy reacts
A Banque de France study empirically estimates the macroeconomic effects of U.S. import tariff shocks between 1990 and 2024.
BDF
Paper
Market rates enhance accuracy of bank lending rate forecasts
A Banque de France study presents an effective method for forecasting new lending rates for households and businesses in France and the euro area.
BDF
Paper
ESRB navigates new financial stability challenges after 15 years
The European Systemic Risk Board (ESRB) marks its fifteenth anniversary, reflecting on its mission to prevent and mitigate systemic risk across the European financial system.
BDF
Paper
Novel data reveals education's impact on household investment risk and returns
A new Banque de France working paper introduces a novel dataset combining security holdings and household finance data.
BDF
Paper
Carry trades exposed to significant exchange rate volatility
A Banque de France analysis highlights how currency carry trades, while seeking to profit from interest rate differentials, are heavily exposed to exchange rate volatility.