European Central Bank (ECB) Economic Bulletin

The European Central Bank's Economic Bulletin presents the economic and financial information, which forms the basis for the Governing Council's policy decisions. It is issued eight times a year, two weeks after each meeting on monetary policy.

The Bulletins in March, June, September and December provide comprehensive analysis of economic and financial events, including an integrated discussion of the macroeconomic projections on inflation, economic growth, foreign trade, etc.

The bulletin is published on the ECB's website. It consists of three main blocks.

The first block provides a general evaluation of economic conditions. It includes six sections:

• Summary
• Description of the external and political environment, which influences the eurozone's financial system
• Estimates of the economic activity (including the labor market, production, etc.)
• Aspects of financial developments
• Description of prices and costs
• Money and credit sector

The second block consists of separate topics describing various financial and economic aspects, which have the highest influence on the general situation as of the time of the Bulletin publication. The third block contains a number of economic articles. These articles may cover different topics, depending on currently most relevant developments.

The ECB Bulletin is a short but complete summary, which allows viewing and interpreting the general picture of the market. It is actually a collection of information and analytical materials. Since the Bulletin is published after the announcement of the ECB's decision on interest rates, it has virtually no effect on euro quotes. However, the publication of the Bulletin is considered one of the most important economic events of the eurozone due to its informational character.