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    We need to talk about interest rates

    Key points of the month
    José Ramón Díez
    José Ramón Díez
    Thu, 09/10/2026 - 13:11
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    Spain’s external sector drives the post-pandemic expansion

    Spanish economy
    Sergio Díaz
    Catalina Becu
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    The Spanish economy remains resilient, but it is ageing

    Editorial
    Oriol Aspachs CaixaBank Research
    Oriol Aspachs
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Monthly Report

November 2025 | No. 505

Index
November 2025 | No. 505

Editorial
One year on: global resilience to the tariff storm
José Ramón Díez
José Ramón Díez

Key points of the month

  • Spain 2026: dynamism, strength and confidence
    Oriol Aspachs

Forecasts and indicators

  • Forecasts and indicators - November 2025

Financial markets

  • The markets weigh an easing in geopolitics and vertigo in technology
    CaixaBank Research
  • Debt limits: 2025 edition
    CaixaBank Research

International economy

  • The global economy advances, one truce after another
    CaixaBank Research
  • The Belt and Road Initiative: a double-edged sword? (part I)
    Sergi Artés SebastiàLuís Pinheiro de Matos
  • Emerging economies: resilience after three global shocks
    Beatriz Villafranca Serrano

Spanish economy

  • Domestic demand, supporting the Spanish economy
    CaixaBank Research
  • Spain’s position in the face of global vulnerabilities in public finances
    Javier García Arenas
  • What do we mean when we talk about uncertainty?
    Zoel Martín Vilató
  • How will the Spanish economy be affected by the performance of its main export markets?
    Oriol Carreras Baquer
  • Economic situation in the Valencia province one year after the floods
    Zoel Martín VilatóEduard Alcobé Garcia

Portuguese economy

  • The Portuguese economy stands out in the European context
    CaixaBank Research

Dossier

  • US 2026 outlook: resilience with frailties
    Isabela Lara White
  • Europe’s medium-term fiscal dilemma
    David Martínez Turégano
  • The world economy in 2026: resilience, transition or disruption?
    José Ramón Díez
  • Good growth outlook for the Spanish economy in 2026
    Oriol Carreras Baquer

Forecasts and indicators - November 2025

Forecasts

Key indicators

17 November 2025
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