The outlook for EU recovery: Navigating monetary decoupling and policy challenges

Letter from the Editors

Monetary divergence

Monetary decoupling in a fragmented world: How far will the ECB’s interest rate cuts go?

The Federal Reserve’s stable interest rate policy contrasts with the European Central Bank’s continued rate cuts aimed at stimulating weak eurozone ...

Eurozone periphery

The recovery of the eurozone periphery: Structural growth or cyclical momentum?

Growth rates across the countries of southern Europe, once considered the weakest link in the eurozone, have outpaced the bloc’s core economies in recent ...

Housing market

European housing policy insights: Lessons for Spain’s market challenges

Spain’s housing market is under strain due to a persistent supply-demand imbalance, particularly in major urban centers, exacerbating affordability ...

Knowledge economy

Spain’s knowledge economy and the NGEU: Recent progress and outstanding challenges

Supported by NGEU funds, Spain’s knowledge economy has made progress in key areas such as R&D investment and product innovation-related sales. ...

Banking sector

Cost efficiency in the Spanish banking sector in the face of margin pressures: Contrast between SIs and LSIs

The sharp rise in interest rates since 2021 has driven up operating expenses for Spanish banks, making cost efficiency a key priority in the current context of ...

Fiscal drag

Estimating the impact of inflation on Spain’s tax burden: The hidden effects of fiscal drag

Inflation has increased Spain’s tax burden by eroding the real value of tax allowances and pushing taxpayers into higher brackets. The lack of systematic ...

Institutional sectors

Spanish economic activity by institutional sector: Divergent growth since the creation of the euro

The evolution of Spain’s institutional sectors since the creation of the euro reveals significant disparities in output and capital investment. The ...

Regulation and Economic Outlook
Recent key developments in the area of Spanish financial regulation
Prepared by the Regulation and Research Department of the Spanish Confederation of Savings Banks (CECA)
Spanish economic forecasts panel: March 2025
Funcas Economic Trends and Statistics Department
Key Facts
Economic Indicators
Financial Indicators
Social Indicators