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The economic recovery is expected to be consolidated in 2022, with GDP growth accelerating to around 6.0%. The pandemic could still generate new waves, either through the emergence of new, more contagious variants or due to the arrival of the cold, but we expect that their impact on the health system would be limited thanks to the progress made with the vaccines and that reimposing severe restrictions on activity would not be necessary.

CaixaBank’s internal data allow us to assess in detail which groups are particularly suffering as a result of the crisis generated by the COVID-19 pandemic and to what extent public sector transfers are proving effective in protecting them.

This year’s return to fiscal rules – as safeguards of the sustainability of public debt – and the persistent shortfall in investment needed to address the EU’s priorities in the current geopolitical context create a scenario marked by frictions that requires a coordinated fiscal strategy that far exceeds the horizon of national and EU political mandates, both in duration and ambition. Therefore, it is essential that the differences that exist, as well as some taboos that have characterised the EU’s economic history on other occasions, are overcome.

After examining how philanthropy is perceived in Spain, and the main charitable causes that Spaniards support, in this third article of the Dossier "Solidarity in Spain: snapshot of a committed society" we address the socio-demographic characteristics of donors who collaborate financially with non-profit entities.

While in December 2022 our GDP growth forecast for 2023 was 1%, finally the Spanish economy has managed to grow by an impressive 2.5%, in spite of the geopolitical uncertainty, persistent high inflation (despite its decline in recent months) and rising interest rates.

November was dominated by a sharp upturn in volatility in the stock markets, amid doubts about the potential exuberance of AI investments in the US and the high valuations of the big tech firms. Sentiment recovered towards the end of the month, with the expectation that the Fed could continue its rate cuts in December, but concern shifted to Japan in the sovereign debt markets.

In an environment marked by geopolitical uncertainty, high interest rates and cooling global demand, the major advanced economies ended 2023 more resilient than had been anticipated a few quarters ago,

The Fed is considering including yield curve control in its toolkit to respond to the COVID-19 crisis. How effective is YYC and what risks does it pose?

With the major developed economies at the peak of a restrictive monetary policy cycle, we wonder how the US stock market has digested it.

Competitiveness is a key factor in a country’s economic prosperity. The ups and downs of the business cycle can influence economic growth to a greater or lesser extent. However, over the long term, the fundamental factor that determines an economy’s ability to generate wealth and prosperity in a global environment is competitiveness.

The Spanish economy continues to have the highest structural unemployment rate in the European Union, despite having managed to reduce it substantially in recent years. To curb it, improvements are needed on three fronts: greater supply and demand for employment and better matching between the two.

Between the end of September and the end of February, the US dollar depreciated by 6% in effective nominal terms and by 10% against the euro, trading at close to 1.07, a level not seen for almost a year. We explore what lies behind this change of trend and whether it is likely to continue.

We outline the five assumptions that must be met in order for the factors that are holding back economic growth to dissipate and for the outlook with which the year has begun to be confirmed.

Having launched the most intense monetary tightening cycle of recent decades, it appears that the central banks are on track to solve the unexpected upturn in inflation which the international economy has had to cope with since the first half of 2021.

After the experience of recent years, we know how political risk can alter the behaviour of key hypotheses in economic forecasting scenarios.

The spring rally was dampened by signs of persistent inflationary pressures and a tightening of the hawkish tone among the major central banks, with rates expected to be «higher for longer».