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What is expected in 2022 in terms of sustainable investments? We gauge the importance of environmental sustainability in the European NGEU funds as part of the Recovery and Resilience Mechanism.

The US interest rates have risen steadily and significantly, galvanised by the Federal Reserve’s rapid and aggressive monetary tightening policies. However, this does not necessarily mean that US bonds are more attractive than their European counterparts. A key factor in the comparison is the exchange rate.

The energy crisis has served as an incentive within the EU to accelerate the transition to energy sources that are more environmentally friendly and less dependent on fossil fuels, but this is seen as more of a medium-term goal.

Spain is the country where net wealth has increased the most since the pandemic: from Q4 2019 to Q3 2023 there was a significant increase of 25%, followed closely by Germany with 22%, France with 16% and, further behind, Italy with 6.0%.

This year, the ECB will not only continue to raise interest rates, but it will also reduce the size of its balance sheet. How will this reduction work and what consequences could it have for sovereign debt?

Inflation has surged in early 2021, but most of the factors driving it are of a technical and temporary nature and should not affect the ECB’s monetary policy stance.

Unlike the process of tracking the achievement of the milestones and targets laid out in the Recovery and Resilience Plans (RRPs), assessing where we are in their implementation becomes more complicated when we try to quantify their macroeconomic impact and their transformative capacity for the European economy. This is becoming more relevant given the challenges posed by the increasingly complex geopolitical scenario we face.

If we want to get a better understanding of monetary policy decision-making, we must pay close attention to changes in financial conditions. To do this, there is an important initial step: knowing how to measure them.