IMF Staff Country Reports

Euro Area: Staff Report on the Monetary and Exchange Rate Policies of the Euro Area and the Trade Policies of the European Union; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director on Monetary and Exchange Rate Policies of the Euro Area

October 29, 2002

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Euro Area: Staff Report on the Monetary and Exchange Rate Policies of the Euro Area and the Trade Policies of the European Union; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director on Monetary and Exchange Rate Policies of the Euro Area, (USA: International Monetary Fund, 2002) accessed September 19, 2024

Summary

This paper examines the monetary and exchange rate policies of the euro area and the trade policies of the European Union. The paper highlights that the overall economic performance of the euro area has been disappointing: growth has been weaker and inflation higher than generally expected. To a large extent, this is the result of a series of unanticipated shocks—oil prices and animal diseases earlier, and the global slowdown and the associated financial market turmoil more recently. However, the performance also appears to reflect a greater-than-anticipated vulnerability to shocks.

Subject: Fiscal policy, Labor, Prices

Keywords: Asia and Pacific, Bond yield, CR, Developing country, EU company, EU trade policy, Euro, Financial market turbulence, Fiscal consolidation, Fiscal stance, Global, Growth path, Headline HICP inflation, Inflation, ISCR, Labor markets, Middle East, Monetary policy, Monetary policy strategy, North America, Oil price increase, Price, Price stabilization, Service price inflation, Strategy of the ECB

Publication Details

  • Pages:

    48

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2002/235

  • Stock No:

    1EUREA0022002

  • ISBN:

    9781451812930

  • ISSN:

    1934-7685

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