March 2026 | No. 509

March 2026 | No. 509

Editorial

Geopolitics and tariffs: a new twist for economic resilience

José Ramón Díez

Key points of the month

The Spanish economy amid the outbreak of war in the Middle East
Oriol Aspachs

Forecasts and indicators

Forecasts and indicators - March 2026

Financial markets

Financial markets, to the rhythm of geopolitics and AI
CaixaBank Research
The macro-financial environment behind the economic outlook
CaixaBank Research

International economy

The international economy once again follows developments in the US
CaixaBank Research
Japan, at the dawn of a new cycle: fiscal tensions and monetary normalisation in the Land of the Rising Sun
Luís Pinheiro de MatosJesús Manuel Carrera Moreno
What to expect from the international economy in 2026
Rita Sánchez Soliva
10 questions on the US Supreme Court’s tariff ruling
David Martínez Turégano

Spanish economy

The Spanish economy: between resilience and slowdown
CaixaBank Research
The Spanish economy in 2026
Oriol Carreras Baquer
Spanish exports amid challenges to their competitiveness
Catalina Becu
Spain’s foreign sector performed better than expected in 2025
Sergio Díaz

Portuguese economy

Stormy start to the year for the Portuguese economy
CaixaBank Research

Forecasts and indicators - March 2026

17 March 2026