Bankinter | The Bank of Spain (BdE) has revised its GDP forecasts for 2025 to 2.7% year-on-year (up 0.2pp); and unchanged at 1.9% for 2026 and 1.7% for 2027. It has also revised the inflation projections for 2025 upwards to 2.5% (up 0.4pp), due to the rise in energy prices, and maintains those for 2026 and 2027 at 1.7% and 2.4% respectively. They project an unemployment rate of 10.5% (down…
Pablo Hernández de Cos, the former governor of the Bank of Spain, has been elected as the managing director of the Bank for International Settlements (BIS). He will succeed the Mexican Agustín Carstens and will take office on July 1, 2025, with a five-year mandate.The BIS, the international institution responsible for coordinating and establishing global regulatory standards for banking and finance, is the author of the regulatory frameworks known as…
The Government puts the current Minister of Digital Transformation and Public Function, José Luis Escrivá, at the head of the Bank of Spain (BdE), despite the rejection of the PP, which refuses to propose a candidate for Deputy Governor in order not to endorse a candidacy that it qualifies as an attempt to politicize the institutions. Today, the Spanish media are picking up on Pedro Sánchez’s previous criticism of the…
“Europe is lagging behind the rest of the major economies and Spain has not been able to achieve sustained convergence in per capita income with the rest of our European partners for more than a decade,” said Pablo Hernández de Cos, governor of the Bank of Spain, who left office yesterday after six years at the helm of the Spanish central bank. The Spanish banker called for “ambition and great…
The governor of the Bank of Spain, Pablo Hernández de Cos, will conclude his six-year term at the helm of the institution tomorrow, Tuesday 11 June, and the government has yet to take a firm decision on his replacement. The Minister of Economy. Carlos Cuerpo, has explained that there is still time to designate a successor to Hernández de Cos, whom he has recognised for his “excellent work” at the…
Aurelio Medel (5Días) | Power manifests itself through the occupation of spaces and is exercised through the application of a programme. First the chairs, then the BOE (the Official Stare Gazette) . This is how the change of a country’s government is transmitted. Then the legislature advances and the viscous period comes in which the end of the cycle is glimpsed, causing the pieces to shift. This happened in the…
The Governor of the Bank of Spain, Hernández de Cos, whose term of office ends next June, said farewell to Parliament yesterday, noting that just over 20% of citizens have confidence in the government, which means sharing with France the worst figure among the major European economies. In the case of political parties, the figure does not even reach 10%, and here Spain’s negative lead is indisputable. And Parliament itself…
Banca March : The forecasts of the Bank of Spain and the OECD, the bitter and the sweet. Regarding economic growth, the Bank of Spain forecasts values for this year identical to those estimated in the last projection, namely 2.3%. However, expectations for the variation in GDP for the coming years fall (1.8% compared with 2.2% in 2024 and 2% compared with 2.1% in 2025). In the case of the…
BancaMarch: The Bank of Spain raises its GDP growth forecast to 2.3%. This was stated by the agency in its recent publication of macro projections, in which its GDP forecast for Spain for the current year rises from 1.6% to 2.3%. It also expects inflation to fall faster than expected this year, to close at 3.2% on average, as well as forecasting growth above 2% every year until 2025. On…
The Bank of Spain estimates that the government will allocate between €34,000 and €40,000 million in measures to deal with the energy and inflation crises arising from the war in Ukraine between 2021 and 2025 and, of this total, only between 15% and 20% has been targeted at the most vulnerable incomes, meaning that between 80% and 85% is of a generalised nature. The largest impact would be concentrated in…