Articles
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Bank margins: Price, volume and composition effects – Spain in a European context
17 July 2024
Two years since the start of the rate hiking cycle, various factors have shaped the trend in margins, with some clearly positive while others less favourable, raising doubts over the sustainability of current margins. A disaggregation of the rate, volume and funding reconfiguration effects helps to explain the incremental growth in the Spanish banks’ net interest margin relative to their European counterparts.
Autores: Alberni, Marta, Montesinos, Alejandro, Rodríguez, María
Tags: Banks margins
Monetary policy changes: Scale and implications
The ECB’s recent rate cut contrasts with the Fed’s recent decision to leave its target rate range unchanged, reflecting the divergent attitudes of the main central banks to inflation, with potential implications for the global economy. Going forward, clear central bank communication remains key to mitigating market volatility and strengthening economic stability in an increasingly complex environment.
Autores: Carbó Valverde, Santiago, Rodríguez Fernández, Francisco
Tags: Monetary policy
The impact of the pandemic on the shadow economy: Known knowns
An interpretation of recent indicators claims that policy responses such as the furlough scheme and changes in individuals’ and firms’ behaviours driven by the pandemic, such as increased reliance on electronic payments, have significantly reduced the size of the shadow economy and tax evasion in Spain. However, a more prudent perspective advises deepening the analyses and confirming this structural change with data for an extended period.
Autores: Lago Peñas, Santiago
Tags: Shadow economy
Spanish economic forecasts: 2024-2025
The Spanish economy is expected to grow by 2.5% in 2024 and another solid 1.8% next year, continuing to outpace the European average by a considerable margin. The favourable external competitiveness position is a key factor behind this performance; nonetheless, corporate and housing investment continue to lag pre-pandemic levels, undermining potential output, while the high structural public deficit increases vulnerability to geopolitical and financial risks.
Autores: Fernández, María Jesús, Gómez Díaz, Fernando, Torres, Raymond
Tags: Spanish economy
Iniciativas recientes de Funcas en materia de educación financiera
10 July 2024
Esta nota ofrece un resumen
sobre las iniciativas llevadas a cabo por Funcas para mejorar la educación financiera en España.
Autores: Funcas
Tags: Educación financiera
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