Source: European Central Bank (video statements)
ECB Research Bulletin by Lorenzo Cappiello, Gianluigi Ferrucci, Angela Maddaloni, Veronica Veggente. Read more: https://www.ecb.europa.eu/press/research-publications/resbull/2025/html/ecb.rb250730~ebfb33d43c.en.html
The Research Bulletin features a selection of recent work on policy-relevant topics by ECB economists. Published on a monthly basis, the articles in the Research Bulletin are intended for a general audience. The views expressed in each article are those of the authors and do not necessarily represent the views of the European Central Bank and the Eurosystem.