The crisis in Iran: how much could it affect the Spanish economy?
The war in the Middle East could generate a new shock to the global economy that would also affect the Spanish economy. In this article, we analyse the three main channels through which it could do so: the first is inflation, through the rising cost of energy, other…
The Middle East leaves a «furious» mark on financial markets
The war triggered significant risk aversion, leading to stock market declines, spikes in volatility, a flight to safe-haven assets, and a sharp tightening in energy and other commodity prices. This increase in energy prices, in turn, led to a rise in short-term…
How far has the EU progressed on the Competitiveness Compass?
The balance of the European Competitiveness Compass in 2026 is positive in terms of orientation and debate, but limited in progress, with key decisions still pending and with an uncertain future in a more complex geopolitical environment.
17 April 2026
The transmission of the interest rate cycle to households in Spain: micro-level evidence of a moderate adjustment and gradual recovery
This article confirms, through the use of anonymised high-frequency internal data, how the interest rate hikes and cuts between 2022 and 2025 have affected Spaniards’ consumption. The results show that the monetary policy of the last cycle has clearly influenced household…
