Publications

Europe has managed to bring inflation back to the ECB’s target without triggering a recession, although the challenge now is to keep it there in an environment that is more exposed to global shocks.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

The euro closed 2025 with a significant appreciation against the dollar, supported, among other factors, by a fiscal and strategic shift in Europe. In 2026, its strength will depend less on interest rate differentials and more on institutional credibility, growth, and the geopolitical environment.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

Despite slightly higher growth and inflation forecasts, Lagarde struck a cautious tone, stressing high uncertainty and avoiding forward guidance. The ECB is watching services inflation and wages and starting to assess AI’s impact. Barring surprises, a prolonged pause with the deposit rate at 2% through 2027 looks likely.

The outlook for the global economy in the second half of the year is proving more positive than expected around April, when the protectionist shock from the US economy materialized.