Publications

Here are all of our publications listed chronologically. You can also find the publications relating to single geography under “Publications by geography” or narrow down your search using the “Advanced filter”.

Latest publications on APP

Europe | The ECB is on a journey

13 June 2022

At last week's ECB meeting Christine Lagarde announced that the central bank has started out on a "journey" toward the normalization of monetary policy through a series of measures that it will take gradually over the next few months.

Global | The Fed and the ECB, on course for normalization at different speeds

21 March 2022

The main central banks have brought forward the withdrawal of their monetary stimulus measures (rolled out during the COVID-19 crisis) to anchor inflationary expectations, and are now inclined toward raising interest rates earlier, and possibly even faster, than expected.

Europe | Exit: the huge challenge

21 December 2021

The central banks of the major developed economies will be closely monitored as they are heading for the exit strategy, i.e. the unwinding of the massive monetary stimulus rolled out during the COVID-19 crisis. The challenge is huge because of a combination of three elements.

ECB WATCH | A faster tapering than expected

16 December 2021

The ECB announced, as expected, the end of the PEPP in March, and approved several measures to soothe the cliff edge that this measure implies

Europe | Inflation, inflation

2 November 2021

These were the words of Christine Lagarde, when she began to field the round of questions at last Thursday's press conference after the European Central Bank's (ECB) monetary policy meeting — giving the impression that this had been the main topic of discussion.

Europe | The ECB delays its key decisions until December

13 September 2021

No surprises came out of last Thursday's ECB meeting, with the expected announcement of a reduction in asset buybacks under its pandemic emergency purchase program (PEPP). The big decisions on monetary policy measures will have to wait until its meets on December 16.

Europe | ECB: focus slightly askew

26 July 2021

Last week the ECB held its first meeting since announcing its Strategy review of monetary policy a few days ago, in which it faced the dual challenge of nailing down future strategy and taking decisions on existing policies.

Europe | The ECB continues with its gamble

16 June 2021

June will be a key month for discovering how the two main central banks—the Federal Reserve (Fed) and the European Central Bank (ECB)—plan to begin to reverse the unprecedented expansionary policies launched at the start of the COVID-19 crisis.

The ECB delivers on QE exit and gives strong guidance on rates

15 June 2018

The Asset Purchase Programme will end in December 2018. However, interest rates will remain on hold at least until the summer 2019, later than expected. Macro projections were revised in line with expectations: GDP down in 2018 to 2.1% and inflation up in 2018 and 2019 to 1.7%.

ECB Watch | Another step towards monetary policy normalization, as expected

9 March 2018

The ECB removed the easing bias on the Asset Purchase Programme. Macro projections remained mostly unchanged. Protectionism (re)emerges as a downside risk.

Individual publications may only be downloaded for technical reasons to allow a more complete, rigorous and individual reading of the publications. In this regard, only a brief summary, mention or reference to the publications is permitted and only when all the following conditions are met: (i) it is not for commercial purposes (not even indirect commercial use, e.g. to attract advertising to your website); (ii) a statement is included that BBVA Research is the author and owner; and (iii) a precise and complete link to the URL where the publication is available is included on this website. +info