June 2021 | No. 457

June 2021 | No. 457

Editorial

We need to talk about inflation

José Ramón Díez

Key points of the month

Recovery or reconstruction?
Oriol Aspachs

Forecasts and indicators

Forecasts and indicators - june 2021

Financial markets

Cautious optimism returns to the financial markets
The ECB’s holistic approach
Laura Becerra
The movement of money, securities... and sentiment in the financial markets
Juan Antonio CabreraJosé Luis López

International economy

After the deluge, the skies begin to clear
Fiscal sustainability and corporate taxation under the spotlight
Clàudia CanalsAntonio Montilla
Risks of overheating in the US and consequences for the euro area

Spanish economy

The recovery of the Spanish economy gets under way
Spain’s high public debt: outlook and priorities for ensuring a good digestion
Javier García ArenasRicard Murillo Gili
The substitution of cash by cards as a means of payment during the pandemic
Oriol Carreras BaquerJavier Ibáñez de Aldecoa FusterEduard Llorens i Jimeno

Portuguese economy

Portugal: favourable medium-term outlook for growth
Portugal’s external accounts show reassuring vital signs
Teresa Gil Pinheiro

Dossier

Central banks and climate change: to act or not to act
Roser FerrerRicard Murillo Gili
Understanding climate risks and their impact on the financial sector
Ricard Murillo Gili
Climate change and financial markets
Luís Pinheiro de Matos

Forecasts and indicators - june 2021

08 June 2021