Macroeconomy

The Spanish economy is expected to continue growing
faster than the eurozone in the coming years, although the
expansionary cycle is likely to lose momentum as some of its
recent drivers fade. A sustained increase in energy prices linked
to the Iran conflict represents the most immediate risk to this
baseline scenario.

Este trabajo examina la evolución reciente
de la economía española, que ha logrado
mantener un crecimiento superior al de la eurozona gracias al dinamismo de la demanda interna y al impulso demográfico.

Six years of rate fluctuation reveal distinct asset-liability management strategies across
Spanish banks. Funding costs drove margin gains during tightening, while asset yields
regained primacy as rates normalised, with significant divergence between SIs and LSIs.