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

June 2021| No. 457

Dossier

The financial impact of climate change

Content available in

catalan spanish

Editorial

We need to talk about inflation

José Ramón Díez

Key points of the month

Recovery or reconstruction?

Forecasts and indicators

Forecasts Key indicators

Financial markets

Economic outlook

Cautious optimism returns to the financial markets

Focus

The ECB’s holistic approach

Laura Becerra

Focus

The movement of money, securities... and sentiment in the financial markets

Juan Antonio Cabrera

José Luis López

International economy

Focus

Fiscal sustainability and corporate taxation under the spotlight

Clàudia Canals

Antonio Montilla

Economic outlook

After the deluge, the skies begin to clear

Focus

Risks of overheating in the US and consequences for the euro area

Spanish economy

Economic outlook

The recovery of the Spanish economy gets under way

Focus

The substitution of cash by cards as a means of payment during the pandemic

Several authors

Focus

Spain’s high public debt: outlook and priorities for ensuring a good digestion

Javier García Arenas

Ricard Murillo Gili

Portuguese economy

Economic outlook

Portugal: favourable medium-term outlook for growth

Focus

Portugal’s external accounts show reassuring vital signs

Teresa Gil Pinheiro

Dossier

The financial impact of climate change

Central banks and climate change: to act or not to act

Ricard Murillo Gili

Understanding climate risks and their impact on the financial sector

Ricard Murillo Gili

Climate change and financial markets

Luís Pinheiro de Matos