Euro Area Policies: 2007 Article IV Consultation: Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Member Countries

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 260

Publication date: July 2007

ISBN: 9781451813074

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Inflation , Labor , Economics- Macroeconomics , Public Finance , ISCR , CR , euro , labor cost indicator , area authorities , core inflation , headline inflation , ECB data , area flow , area trade , Euro area policy , Inflation , Income , Price stabilization , Europe , Global

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Summary

The Euro Area Policies’ 2007 Article IV Consultation reports that the economy is poised for a sustained upswing because of cyclical considerations and policies, which have had a forward-looking cast. The area’s external position and the real effective exchange rate of the euro are within range of medium-term equilibrium. Stabilizing inflation below 2 percent might well require a further gradual tightening of monetary policy. Increased contestability and integration in the financial sector is also key to improving performance.