We examine whether the ECB's Securities Markets Programme (SMP) was effective in reversing or stabilising adverse movements in Irish sovereign yields. Our initial analysis examines whether daily yield movements responded significantly to interventions. At the daily frequency we find no...

We use high-frequency intraday interest rate data to measure euro area monetary policy shocks on the days of ECB interest rate announcements between 2002 and 2013. In line with Gürkaynak et al. (2005), we look at monetary policy shocks along two time dimensions: one related to the current level...

This article provides an overview of the main measures of expectations for the euro area and outlines the caveats that must be taken into account when analysing each one.

The results of the survey give important information on supply and demand conditions in the loan market and they complement quantitative data on developments in this market.