The first cohort of baby boomers turns 65 in 2023 and in the coming years this entire generation will retire en masse. In this article, we will assess the state in which the baby boom generation is approaching retirement in Spain, both from a financial perspective and in terms of their emotional state and their health.
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The string of supply and demand shocks triggered by the announcements of recent weeks will alter the balances of growth and inflation, while the expectations variable will modulate the effects that will be transmitted through the trade and financial channels.
In the continuation of the article «Advanced economy housing markets in a scenario of tighter monetary policy (part I)» we calculate the potential adjustment in housing prices which could occur in some of the international housing markets that are showing signs of overvaluation.
The Silicon Valley Bank intervention and the shock wave it triggered throughout the rest of the international financial system has been yet another obstacle on the path towards the normalisation of the international economic cycle, it can be seen as a test for the central banks’ dual mandate.
The independence of central banks seems indisputable, even more so in these times of pandemic, in which they have increased their use of unconventional policies and provided coverage for the high funding needs of states. In this article we will explore the theory and empirical evidence supporting the importance for central banks to maintain their independence.
Until not long ago, the financial markets had seemed to digest with relative ease the heavy dose of monetary tightening that the central banks have introduced to curb inflation. However, with interest rates increasingly entering restrictive territory – that is, at levels that should cool the economy – the risk of stress events and financial turbulence increases.
Once the pandemic is over, the very need to act decisively in monetary and fiscal terms will have repercussions that, depending on how these are managed, could affect the performance of economic policy in the future.
Like Vladimir and Estragon in Waiting for Godot, economists, academics and central banks have spent the last decade waiting for inflation that never came. At least until COVID-19 arrived on the scene. The rallies in the inflation data and expectations with which 2021 began have revived the debate about its arrival.
In 2024, the global economy remained resilient in an environment marked by restrictive financial conditions and the major international economies managed to grow by more than expected. Nevertheless, 2025 is still set to be a challenging year: the threat of greater economic fragmentation has now been added to the risk map, with an increase in trade barriers and uncertainty.
The Spanish economy is currently undergoing a period of buoyant growth. With the effects of the pandemic and the energy crisis now behind it, it is now in a strong expansionary phase, marked by balanced and widespread growth across sectors
In 2024, the Spanish economy has exhibited widespread growth across virtually all of its sectors: the number of sectors in a situation of weakness has reduced, while that of sectors in expansion has increased, following the gradual absorption of the major shocks that affected their performance in recent years.
In 2021, a milestone was reached that was hard to imagine a year ago: the mass vaccination of a large part of the population in advanced countries. Although new waves of infection are occurring, in those countries where population vaccination levels are higher it is likely that activity and travel restrictions as severe as those that have set the pace of economic development since the outbreak of the pandemic will not have to be reimposed.
Consumption in Spain is recovering faster than in previous crises. This is highlighted in the consumption tracker produced by CaixaBank Research based on internal data (available in Spanish: Monitor de Consumo). In the month of October, our consumption indicator was already 13% higher than in the same month in 2019.
The Spanish agrifood sector has begun to recover after two years of decline, thanks to the moderation of production costs and the easing of the drought. However, the effects of both of these shocks still persist and the sector continues to face major challenges that are limiting its structural growth capacity.
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Impact and challenges of the digital economy