April 2023 | No. 477

April 2023 | No. 477

Editorial

New challenges for the central banks

José Ramón Díez

Key points of the month

Real estate sector: this time is different, in Spain
Oriol Aspachs

Forecasts and indicators

Forecasts and indicators - April 2023

Financial markets

International economy

Love triangle in the international economy: activity, inflation and financial stability
Advanced economy housing markets in a scenario of tighter monetary policy (part II)
Advanced economy housing markets in a scenario of tighter monetary policy (part I)
The euro area foreign sector in the red
Rita Sánchez Soliva
The EU’s answer to the Inflation Reduction Act: «You cannot have dessert until you first eat your vegetables»
David del ValRicard Murillo Gili

Spanish economy

The Spanish economy holds up well, but the medium-term risks still loom large
The role of non-tourism services in Spain’s foreign balance
Jaume Servert Banegas
The Spanish economy continued to reduce its foreign debt in 2022
Spanish real estate sector: 2022 recap and 2023 outlook
Judit Montoriol Garriga

Portuguese economy

Encouraging signs from the Portuguese economy at the start of the year
Recap of Portuguese household consumption in 2022
Teresa Gil Pinheiro

April 2023| No. 477

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Editorial

New challenges for the central banks

José Ramón Díez

Key points of the month

Real estate sector: this time is different, in Spain

Forecasts and indicators

Forecasts Key indicators

Financial markets

Economic outlook

Financial turbulence shakes, but does not stifle, the markets and central banks

Focus

The Silicon Valley Bank intervention and its implications

Ricard Murillo Gili

International economy

Economic outlook

Love triangle in the international economy: activity, inflation and financial stability

Focus

The EU’s answer to the Inflation Reduction Act: «You cannot have dessert until you first eat your vegetables»

Ricard Murillo Gili

Focus

The euro area foreign sector in the red

Rita Sánchez Soliva

Focus

Advanced economy housing markets in a scenario of tighter monetary policy (part I)

Focus

Advanced economy housing markets in a scenario of tighter monetary policy (part II)

Spanish economy

Economic outlook

The Spanish economy holds up well, but the medium-term risks still loom large

Focus

The Spanish economy continued to reduce its foreign debt in 2022

Focus

The role of non-tourism services in Spain’s foreign balance

Jaume Servert Banegas

Focus

Spanish real estate sector: 2022 recap and 2023 outlook

Judit Montoriol Garriga

Portuguese economy

Economic outlook

Encouraging signs from the Portuguese economy at the start of the year

Focus

Recap of Portuguese household consumption in 2022

Teresa Gil Pinheiro