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Understanding inflation dynamics requires an understanding of the underlying concept and how it is measured. Inflation is defined as a process of continuously rising prices and falling purchasing power. In other words, a general and broad-based increase in the price of goods and services over an extended period. The main objective of central banks is to keep prices stable, to preserve the integrity and purchasing power of people's money. The most common inflation indicator measures the average change ...

This briefing provides a summary of the recent economic developments in the EU Member States and gives an overview of relevant economic projections forecasted by major international and EU institutions

Inflation has risen to levels not seen in 40 years in the euro area or in many other countries, forcing some central banks to raise interest rates in a context that bodes ill for economic growth. Initially driven by post-pandemic supply shortages and then by soaring energy prices, following Russia's invasion of Ukraine, inflation is now becoming increasingly broadly based, affecting everything from food and services to household goods. Dissatisfaction with the rising cost of living is leading to ...

On 26 July 2012, then ECB President Mario Draghi gave the so-called “whatever it takes” speech, today widely considered as the turnaround point in the European sovereign debt crisis. Shortly after, the European Central Bank (ECB) announced the details of its outright monetary transactions programme (OMT) tool. The speech, together with the OMT announcement, were enough to remove re-denomination risk from sovereign bond markets. OMT was never actually used. 10 years after, in a context of record-high ...

Proposed anti-coercion instrument

Briefing 16-06-2022

It is widely held that geopolitical tensions in the world are on the rise. One of the clear indicators of this phenomenon is the increasing use of economic tools for the pursuit of strategic and geopolitical aims. This can take the form of coercion used by one country against another through restrictions on trade or investment in order to interfere with their sovereign choices. In response to the EU and its Member States becoming the target of deliberate economic coercion in recent years, on 8 December ...

EPRS invites leading experts and commentators to share their thinking and insights on important topics of relevance to debate in the European institutions. In this paper, Jacob Funk Kirkegaard, Senior Fellow at the Peterson Institute for International Economics and the German Marshall Fund of the United States, looks at the current state of the Chinese economy, and at the various factors likely to influence its evolution in the coming years. He argues that Chinese growth will slow to below the levels ...

This paper provides a summary of recent economic, financial and budgetary measures and developments following President Vladimir Putin’s decision of 24 February to start a military attack against Ukraine. It includes recent information relating to the EU sanctions regime, recent economic estimates and policies supporting economic and financial resilience, including the coordination of national economic and fiscal measures. It also highlights policy recommendations made in the public domain to mitigate ...

This paper provides a summary of recent economic, financial and budgetary decisions and developments following President Vladimir Putin’s decision of 24 February to start a military attack against Ukraine. It includes recent information relating to the EU sanctions regime, recent economic estimates, policies supporting economic and financial resilience, including the coordination of national economic and fiscal measures. It also highlights policy recommendations made in the public domain to mitigate ...

The Lebanese government's decision to impose new taxes in October 2019 sparked nation-wide protests by a population exhausted by poor public services, worried about increasing national debt and frustrated by widespread corruption. Since then, Lebanese politics have been marked by political deadlock that has prevented successive governments from implementing urgent reforms. The devastating explosion in the port of Beirut on 4 August 2020 only exacerbated the situation. By the time Prime Minister Najib ...

Inflation has reached the highest level in decades in the European Union, United States and many other countries, with the Ukraine conflict adding upward pressure on prices of energy and food. The Russian invasion has intensified the already near-record growth of consumer prices resulting from the coronavirus pandemic and broken supply-chains. The war has sharply curbed supply of energy, wheat and other products from Russia and Ukraine, their major producers. The countries' exports look set to dwindle ...