European Central Bank
Euro repo market acts as shock absorber in stress periods
A new ECB working paper finds the euro-denominated repo market acts as a shock absorber during financial stress.
Focus
Large energy shocks trigger non-linear inflation, demanding differentiated policy
A new European Central Bank Working Paper finds that euro area inflation reacts disproportionately to large energy shocks, while small shocks have no significant effect.
Euro area economy faces risks from energy and uncertainty
Philip R. Lane, Member of the ECB Executive Board, presented an outlook for the euro area economy on March 25, 2026.
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Inclusion and innovation drive digital euro towards 2029 launch
Piero Cipollone, Member of the Executive Board of the ECB, provided an update on the digital euro, emphasizing technical preparations for a potential 2029 launch.
ECB opens its Frankfurt premises for Night of the Museums
The European Central Bank will open its Grossmarkthalle premises to the public for Frankfurt's Night of the Museums on April 25, 2026.
Extreme weather events show varied short-term economic impact in euro area
An ECB working paper examines the short-term macroeconomic and sectoral effects of extreme weather events in Germany, France, Italy, and Spain.
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Housing wealth and cash flow shape monetary policy transmission
A new European Central Bank working paper quantifies the role of housing wealth in the transmission of monetary policy to consumption across 20 advanced economies.
Green supply chain decoupling leads to significant economic and environmental costs
A new ECB working paper introduces a novel methodology to analyze green supply chain decoupling, revealing substantial economic costs and increased greenhouse gas emissions.
Europe's productivity challenge: AI and innovation policy
ECB Chief Economist Philip R. Lane highlighted the persistent slowdown in European productivity growth and its widening gap with the United States.
Cipollone: Eurosystem lays groundwork for tokenised financial markets
Piero Cipollone, Member of the ECB Executive Board, outlined the Eurosystem's strategy to overcome fragmentation and enable scalable tokenised financial markets in Europe.
Interlinking payment systems boosts international trade by 4 percent
A new European Central Bank working paper provides the first causal estimate of the economic impact of interlinking payment systems, finding a 4 percent increase in trade volumes for connected countries.
Crypto-asset monitoring: ECB experts detail 2025 conference findings
The European Central Bank has published an Occasional Paper compiling abstracts from the 2025 Crypto-Asset Monitoring Expert Group (CAMEG) conference.