Using a simple format and plain language, the Banco de España Blog seeks to make our work more accessible to the general public. Posts share our analysis of economic and financial issues and the ins and outs of the Banco de España’s tasks and activities with all those curious to know more.
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27/06/2024
The ECB’s monetary policy decisions are implemented under the operational framework, that steers market rates to bring them into line with the Eurosystem’s key interest rates. The ECB reviewed this framework in March 2024 to adapt it to the changing monetary policy environment.
6 min
Monetary policy
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27/03/2024
The Banco de España didn't report profits in 2023. Why not?
The last decade’s unconventional monetary policies, coupled with the interest rate hikes since 2022 to tame inflation, mean that the Banco de España has not posted a profit for the first time in its history. While this situation is set to persist for another year or so, it will in no way interfere with our ability to do our job.
21/03/2024
Bizum and the success of instant credit transfers in Spain
The digitalisation of the economy has transformed how we communicate, consume and pay, increasing demand for instant payment services that are available 24/7. With instant credit transfers accounting for over 50% of all transactions processed, Spain is spearheading the global surge in the use of this payment method.
13/03/2024
Lessons learned from the 2023 banking crises
In 2023 three US banks and one Swiss bank failed, requiring the authorities to step in. The impact was limited, but the episode shows how deficient risk management and inadequate governance can result in liquidity problems that spread rapidly. We can learn lessons from these cases that help us mitigate risks in the future.
07/03/2024
Why do gender gaps still exist at work? The latest Economics Nobel laureate has the answer
The gender gap in the labour market closed considerably during the 19th and 20th centuries. However, this process of convergence, both in labour market participation and wages, has slowed in the last two decades. Claudia Goldin’s research is key to understanding why.
27/02/2024
What does a shrinking central bank balance sheet mean for your pocket?
The balance sheets of the European Central Bank (ECB) and the other euro area central banks have been shrinking since 2022 due to the phasing out of the past decade’s expansionary monetary policy measures. This has an impact on interest rates in the economy and therefore affects everyone directly.
21/02/2024
Independent evaluations: a tool for transparency, improvement and modernisation
The Banco de España is conducting independent evaluations of its functions and activities through its Evaluation and Strategic Planning Office. This initiative places us at the vanguard of central banking in key aspects such as continuous improvement and transparency.
19/02/2024
Researcher access to public institutions’ micro data: a win-win scenario
Four years ago, the Banco de España opened its data laboratory BELab, to provide the research community with access to a wealth of micro data. We are now taking the next step to make a much broader range of data available to researchers through an ambitious agreement with other Spanish public institutions.
31/01/2024
The Red Sea crisis is driving up global shipping costs. However, our bottleneck indicator suggests that, for the time being, the economic impact is limited compared with other previous episodes. In any event, developments must be closely monitored. Our daily bottleneck indicator enables us to track the situation in real time.
22/01/2024
A treasure in the Library: the manuscript of Cantillon’s Essai, the first modern economic treatise
The Banco de España’s Library houses a late 18th-century manuscript of the first known Spanish translation of Richard Cantillon’s Essai sur la nature du commerce en général. This work is considered to be the cradle of modern economics.
20/12/2023
Suptech: how innovative technology helps us supervise banks
The Banco de España seeks to promote innovative technology. Incorporating suptech into supervisory activity is a top priority. One of the pillars of our strategy is to capitalise on our rich data sources using tools like artificial intelligence (AI).
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