ECB-Meeting of 16-17 October 2024

November 14, 2024-- Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Ljubljana on Wednesday and Thursday, 16-17 October 2024
1. Review of financial, economic and monetary developments and policy options Financial market developments
Ms Schnabel noted that since the Governing Council's previous monetary policy meeting on 11-12 September 2024, policy rate expectations had shifted back and forth. Incoming data had made it challenging for market participants to price in the speed and extent of both disinflation and the monetary policy easing cycle.

The key drivers of financial market developments since the September meeting had been a sluggish euro area economy, a robust US economy and rising and volatile commodity prices.

NFCs' debt-to-GDP ratio (consolidated measure) decreased to 69.3% in second quarter of 2024 from 71.8% one year earlier

The combination of weaker euro area macroeconomic data and higher commodity prices had affected the market's view of the inflation outlook and the perceived balance of risks to inflation. Inflation fixings (swap contracts linked to monthly releases of the Harmonised Index of Consumer Prices excluding tobacco) had recently shifted upwards significantly, reversing part of the decline seen following the Governing Council's July meeting, when energy prices had dropped notably.

ESMA publishes latest edition of its newsletter

January 9, 2025-- The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter.

Amundi to shut its original 'multi' smart beta ETF

January 8, 2025--The fund made returns of nearly 20% last year but has failed to retain sufficient assets to be 'economically efficient'
Amundi is to close a multi-strategy smart beta exchange traded fund, the product it launched to enter the space a decade ago.

ESMA launches selection of the Consolidated Tape Provider for bonds

January 3, 2025-- The European Securities and Markets Authority (ESMA), the EU's financial markets regulator and supervisor, is launching the first selection procedure for the Consolidated Tape Provider (CTP) for bonds. Entities interested to apply are encouraged to register and submit their requests to participate in the selection procedure by 7 February 2025.

ECB-Monetary developments in the euro area: November 2024

January 2, 2025--Annual growth rate of broad monetary aggregate M3 increased to 3.8% in November 2024 from 3.4% in October
Annual growth rate of narrower monetary aggregate M1, comprising currency in circulation and overnight deposits, increased to 1.5% in November from 0.2% in October
Annual growth rate of adjusted loans to households stood at 0.9% in November, compared with 0.8% in October