On 21 March 2025, the Bank of Russia Board of Directors decided to keep the key rate at 21.00% per annum while official inflation in February stood at 10.1%. This disparity and the discrepancy compared to US Fed and ECB interest rates raises questions about the underlying risks in Russia’s war economy and confirms the impact of global sanctions.
The EU Commission has launched a consultation to help determine the best approach for the application of the EU’s framework on market risk prudential requirements for banks. The Fundamental Review of the Trading Book (or FRTB) introduced by Basel III aims to incorporate more sophisticated risk measurement techniques, allowing for closer alignment between capital charges and the actual risks banks are facing in their activities in capital markets.
The Belgian economy was resilient to a series of shocks, but growth has been slowing, and core inflation remains persistent. Labor productivity growth remained sluggish, and labor-cost competitiveness has declined. Successive shocks have increased structural fiscal deficits and public debt. Risks arising from deepening geoeconomic fragmentation and intensification of regional conflicts affecting energy, trade and financial spillovers could worsen the outlook.
While fundamentals remain strong, Luxembourg’s economic performance has been lackluster during 2022-24. A tepid recovery is underway, supported by public consumption. But there are risks of setbacks stemming from weaker external demand and higher financial market volatility, alongside domestic challenges in the real estate sector and fiscal pressures.
The digital euro is not just about creating a new form of money, says ECB Chief Economist Philip R. Lane. It is about ensuring that Europe retains control over its monetary and financial destiny in the digital age against a backdrop of increasing geopolitical fragmentation.
Despite the challenging environment of recent years, the euro group economies have demonstrated significant resilience. Well-coordinated and sound policies have ensured economic stability, with declining inflation fostering recovery in household disposable incomes and improving financing conditions supporting investment in the face of headwinds.
MEPs have greenlit the appointment of five candidates for the EU Anti-Money Laundering Authority (AMLA) Executive Board. Based in Frankfurt, is tasked with coordinating the actions of national financial intelligence units and directly overseeing selected risky financial entities present in multiple member states. AMLA is scheduled to start its operations in the summer of 2025.
The EU Commission has disbursed an additional €1 billion tranche of its exceptional Macro-Financial Assistance (MFA) loan to Ukraine, to be repaid with proceeds from immobilised Russian State assets in the EU. This step reinforces the EU’s role as the largest donor since the beginning of Russia’s war against Ukraine.
In its March 19, 2025 meeting, the U.S. Federal Reserve decided to keep its benchmark interest rate unchanged at a target range of 4.25% to 4.50%. What does this decision mean for the U.S. financial markets.
During her quarterly meeting with MEPs, ECB President Christine Lagarde on Thursday fielded numerous questions on Donald Trump’s trade and economic policy u-turn.
The EU Commission has adopted its strategy for the Savings and Investments Union (SIU), a key initiative to improve the way the EU financial system channels savings to productive investments. It seeks to offer EU citizens broader access to capital markets and better financing options for companies. This can foster citizens’ wealth, while boosting EU economic growth and competitiveness.
The EU Council discussed draft conclusions for the upcoming European Council. Ministers then held an exchange of views on EU-UK relations, as well as on a synthesis report on Council contributions on the 2025 European Semester. The Council agreed to forward a draft recommendation on the economic policy of the euro area to the European Council for endorsement. Finally, ministers approved a joint declaration for this year’s priorities and joint
According to MEP Markus Ferber (CSU, Germany), EPP Group’s Spokesperson in the Economic and Monetary Affairs Committee, 300 billion euros of European savings flow to the United States for investment there, every year: “Especially given the difficult relationship with the current US President Donald Trump, we should harness this potential and invest in innovation and growth in Europe”, he said.
The EU Commission has issued a positive assessment of Latvia’s request for €293 million under the Recovery and Resilience Facility (RRF). The country made progress on 14 reforms and 24 investments that will drive positive change for citizens and businesses in Latvia in areas such as digitalisation, health, affordable housing, energy efficiency, customs, and tax compliance.
The global economy has been resilient in 2024, but some signs of weakness are appearing against a backdrop of slower growth, lingering inflation and an uncertain policy environment, according to the OECD’s latest Interim Economic Outlook.
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“In this digital age, knowledge is indeed power. While there is an abundance of information at our fingertips, choosing who to trust is important. We should be curious but have a critical eye. From my side, as European Commissioner for financial services, I will be putting forward a strategy for financial literacy in the coming months” – EU Commissioner Albuquerque.
This Single Resolution Board (SRB) initiative aims to ensure that European banks are regularly testing their capabilities to handle a crisis and to implement a resolution action. This consultation incorporates lessons learned from past crises and best practice. It is a key step to assess banks’ resolvability and readiness in case of crisis.
The 14th International Debt Management Conference, set for 17 to 19 March in Geneva, will be a platform to discuss and share experiences on critical developments and challenges facing developing countries, when it comes to managing public debt in the current global economic context.
The report takes stock of the economic situation in the euro area, fiscal policy and coordination, the importance of a coordinated strategy to enhance competitiveness, boost productivity and growth, and moving forward with the Capital Markets Union as a key driver. It also highlights the need to accelerate progress on the digital euro to maintain Europe’s strategic autonomy.
Against the backdrop of escalating geopolitical tensions, the G7 Foreign Ministers convened in Charlevoix, Quebec, from March 12-14, 2025, to reinforce their collective commitment to global peace, security, and economic resilience. Their joint statement underscored unwavering support for Ukraine, a firm stance on Middle Eastern conflicts, and strategic engagement in the Indo-Pacific, while addressing challenges in Latin America and Africa.
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