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you are currently viewing:Meeting of 16-17 April 2025 Account of the monetary policy meeting of the Governing Council of the European Central BankMay 22, 2025--Held in Frankfurt am Main
The severity of the tariffs and the manner in which they had been introduced had led to a breakdown of standard cross-market correlations, with a sell-off of US equities occurring at the same time as a sell-off of Treasuries in the context of a marked depreciation of the US dollar against major currencies. Movements in euro area risk-free rates reflected the opposing impacts of the historic German fiscal package and the global trade conflict. Source: ECB |
OECD Economic Surveys: European Union and Euro Area 2025
July 3, 2025-Abstract
Russia's war of aggression against Ukraine and rising trade tensions continue to slow down the European economy. Despite strong policy responses to external shocks, the near-term outlook is clouded by elevated uncertainty. Disinflation is progressing, but monetary policy should remain vigilant. Fiscal policy needs to make space for new spending needs, such as defence, but to ensure medium-term sustainability, fiscal prudence must continue.
