European Central Bank
Private equity buyouts reshape supply chains, create spillovers
A new ECB study finds that private equity (PE) buyouts propagate significantly through supply chains, boosting suppliers in normal times but increasing pressure during economic downturns.
Focus
Euro area bond markets integrated, bank loans vary by country
A new ECB working paper finds that corporate bond markets in the euro area are as integrated as those in the US, with market finance premia showing little dependence on the issuer's country of origin.
Energy Union vital for EU security, competitiveness, green transition
A new ECB Occasional Paper argues that a genuine European Energy Union is essential to address the EU's reliance on fossil fuels and bolster its industrial competitiveness.
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NBFI cross-border flows squeeze euro area firm financing
Non-bank financial institutions (NBFIs) are increasingly diverting financing away from euro area firms.
HICP classification update refines inflation data
The Harmonised Index of Consumer Prices (HICP), the European Central Bank's main inflation measure, underwent a major classification update in January 2026.
Euro area equity market integration lags US ties
A new ECB Economic Bulletin article applies a structural gravity model to assess cross-border equity holdings in the euro area.
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Euro area GDP growth dispersion declines, demographics key
Dispersion in real GDP growth across euro area countries has recently declined to a historically low level.
Tariffs boost overall FDI, deter manufacturing investment
A new European Central Bank article reveals that while tariffs generally increase greenfield foreign direct investment, they can deter manufacturing FDI.
War intensifies inflation, growth risks; ECB holds rates
The ECB Governing Council kept its three key interest rates unchanged at its April 30, 2026 meeting.
Lagarde urges courage for enduring European institutions
ECB President Christine Lagarde, speaking at the Charlemagne Prize ceremony, urged European leaders to show courage in building enduring institutions.
Lane: Global energy shocks hit euro area growth, inflation
Philip R. Lane, Member of the Executive Board of the ECB, outlined analysis on energy supply shocks and their implications for monetary policy.
Later retirement drives euro area employment growth
Older workers are significantly contributing to employment growth in the euro area.