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March 2020 | No. 443 Dossier The financial cycle and the era of low interest rates Content available in catalan spanish Print Download File Editorial A black swan, in the form of a coronavirus Enric Fernández Chief Economist Key points of the month The COVID-19 spreads, temporarily, to the macro environment and the financial sector Oriol Aspachs Research Director Forecasts and indicators Forecasts Key indicators financial markets Key indicators international economy Key indicators European Union Key indicators Spanish economy Financial markets Economic outlook The coronavirus spreads to the financial markets Focus The cost of negative rates: the case of the Riksbank Adrià Morron Salmeron International economy Economic outlook COVID-19 a new risk in 2020 Focus Latin America’s «second lost decade»? Àlex Ruiz Focus A step towards a reform of the fiscal rules in Europe? Álvaro Leandro Focus The economic impact of the dreaded coronavirus: should we be worried? Javier García Arenas European economy Economic outlook The United Kingdom grew by 1.4% in 2019, after stagnating in Q4 2019 Focus Consumption: how has it evolved and what does the future hold for Portugal? Teresa Gil Pinheiro Spanish economy Economic outlook Spain: slight moderation of growth, in anticipation of the coronavirus Dossier The financial cycle and the era of low interest rates Focus The widespread fall in interest rates: a global trend Adrià Morron Salmeron Focus Should monetary policy react to the financial cycle? Some reflections and possible answers Javier García Arenas Focus The financial cycle and the era of low interest rates: a change of narrative? Several authors Focus The uncertainty surrounding the natural rate of interest Adrià Morron Salmeron Focus The financial cycle: an essential tool for understanding the economy Javier García Arenas
The COVID-19 spreads, temporarily, to the macro environment and the financial sector Oriol Aspachs Research Director
Focus Consumption: how has it evolved and what does the future hold for Portugal? Teresa Gil Pinheiro
Focus Should monetary policy react to the financial cycle? Some reflections and possible answers Javier García Arenas