One of the songs from the final stage of The Beatles was The long and winding road (The long and winding road), on the album Let it be, the last one published, even though it was recorded before Abbey Road. Surely the title and parts of the lyrics come to mind for Alícia Romero's Ministry of Economy: "You left me standing here. A long, long time ago. Don't leave me waiting. Guide me to your door." Not only because of the difficulties she has in approving the first budgets of Salvador Illa's legislature, which also, but because of the obstacles in achieving another objective pursued by the different Catalan governments, which is to make the Institut Català de Finances (ICF) a true public bank to cover areas that private financial entities do not reach, or barely do.

The tension around the war with Iran has once again shaken energy markets and driven the price of oil above 110 dollars a barrel. After Donald Trump's speech, in which he avoided specifying when the Strait of Hormuz could be reopened, investors reacted nervously and accelerated crude oil purchases. The West Texas Intermediate (WTI), a benchmark in the United States, has climbed above this threshold —the highest level since March 9— and is heading for its most intense daily increase since 2020, while Brent, a benchmark in Europe, also maintains an upward trend in a context marked by geopolitical uncertainty and the risk of further supply disruptions.

Caution at the European Central Bank (ECB). Despite the Iran nuclear deal and rising fossil fuel prices, the ECB's Governing Council unanimously agreed at its meeting this Thursday not to change interest rates and keep them at 2%. sixth consecutive timeHowever, the president of the financial institution, Christine Lagarde, has opened the door to future interest rate hikes. The French leader warned that the Middle East conflict "has created upside risks to inflation and downside risks to economic growth," making the economic outlook "much more uncertain." "The war will have a significant impact on inflation in the short term due to rising energy prices," the ECB president noted at a press conference. However, the ECB has decided not to take action. "The Governing Council is well positioned to navigate this uncertainty," Lagarde assured. The institution emphasizes that inflation is currently under control, around the 2% target set by the bank itself, and asserts that expectations for price increases "in the longer term are firmly anchored and the economy has shown resilience in recent quarters."

This week's transfer market has been dominated by the appointment of the journalist and businessman Tatxo Benet as new president of FemCATAs reported by ARA, [name omitted] will become the tenth president of the foundation, succeeding Oriol Guixà, whose term has ended and who will now become an honorary trustee. The composition of the board of trustees has also changed, now including two new vice-presidents, Mercè Mullor (Mullor SL) and Pau Vila (LC Paper), while retaining Jaume Alsina (BonÀrea) and Eulàlia Planes (Dispur), who already held these positions. Beyond FemCAT, in Frankfurt, the former Spanish Minister of Economy and current Vice-President of the European Central Bank (ECB), Luis de Guindos, will have to begin his farewell to the institution, as he already has a replacement: the Governor of the Croatian Central Bank will assume the position on June 1st. Additionally, Seat has appointed a new Director of Public Funds, and Mediona has a new CEO.

With over 2,450 tons of gold, Italy holds the third-largest gold reserves in the world, behind only the United States and Germany. In the current uncertain international climate, where geopolitical crises increasingly influence markets, this metal remains a safe-haven asset par excellence; a wild card that would allow the country to weather a period of instability. But to whom does this treasure, held by its central bank, belong? This is the question that has divided Italian politicians and experts for weeks, after the government of Giorgia Meloni pushed through an amendment during negotiations on next year's budget law. This amendment explicitly states that the gold reserves deposited in Bankitalia—which have a market value of 5-0—are no longer valid. of the Italian people."

Eurozone banks slightly, albeit unexpectedly, increased restrictions on lending or credit lines to businesses during the third quarter of 2025, while keeping mortgage lending standards for individuals unchanged and slightly tightening conditions for access to consumer credit, according to the latest report.

The Vice President of the European Central Bank (ECB), Luis de Guindos, asserted this Wednesday that housing policies, especially those affecting rentals, have created "bottlenecks" in the market that partly explain the rising prices in the sector. Guindos praised the fact that the Spanish economy is growing, largely thanks to the arrival of foreign immigration, but contrasted this with the fact that "the housing supply is very limited."

Nonstop. Mortgage issuances again set records in July. In Catalonia, a total of 8,406 transactions were closed, representing a 25.7% increase compared to the previous year, according to data released this Thursday by the National Institute of Statistics (INE). A total of €1,589.85 million in mortgages for home purchases were lent, 40.7% more than a year ago and 22% more than the previous month.

The President of the European Central Bank (ECB), Christine Lagarde, has proclaimed a change of cycle. It all began after the pandemic and with the start of the Russian invasion of Ukraine: prices soared, and in an attempt to stem inflation, Frankfurt quickly and consistently raised interest rates—which had been stuck at 0% since 2016. Little by little, the rate of price increases has slowed, and the bank has cut the price of money at the same pace. Inflation has now stabilized around the 2% target, and therefore, this Thursday, the bank unanimously decided to keep interest rates at 2% at the ECB's governing council meeting.

None of Donald Trump's announcements regarding tariffs have gone unnoticed by the European Central Bank (ECB), just as it has not gone unnoticed the trade agreement between Europe and the United States to end, precisely, the tariff chaos and avoid an escalation of the trade war. This Wednesday, the president of the European banking institution, Christine Lagarde, announced that they will take the agreement reached into account when making a decision on interest rates at the next meeting, scheduled for September 14. Wednesday's meeting was Lagarde's first statement since the EU executive reached an agreement with the White House.

Negative or 0% interest rates have been one of the main headaches for Spanish banking for years. The sector has experienced this as a limit to its ability to make money from the banking business (this arises mainly from the difference between what the financial institution pays to obtain money and what it charges to lend it to companies or families). But in 2022, this changed completely.

No surprises in Frankfurt. Given the uncertainty surrounding the White House, the European Central Bank (ECB) has avoided any missteps and decided to keep interest rates at 2% while awaiting the outcome. the trade war between the European Union and the United StatesThis is the first time in 2025 that the banking institution has decided not to cut the price of money, following eight consecutive meetings of the ECB's governing council in which it had agreed to reduce it. "The environment remains exceptionally uncertain, particularly due to trade disputes," ECB President Christine Lagarde stated at a press conference.

The European Central Bank (ECB) wants to avoid any missteps and intends to keep a bullet in the chamber against a potential trade war between the European Union and the United States. The bank's president, Christine Lagarde, has noted on more than one occasion the "uncertainty" that Donald Trump in the White House represents for the eurozone economy. In the midst of a tariff conflict, it is most likely that the ECB's governing council will not touch interest rates in the meetings it will hold this Thursday, as expected.

Inflation appears to be under control and the eurozone continues to record almost anemic economic growthIn this context, despite Donald Trump's new tariff threats, the European Central Bank (ECB) decided this Thursday to lower interest rates for the seventh consecutive time and the eighth in a year, as planned. Thus, the banking institution chaired by Christine Lagarde has reduced its interest rates by 0.25 percentage points by a large majority, bringing the price of money to 2%.

Two weeks after US President Donald Trump unleashed the tariff machinery that has dynamited markets around the world, the European Central Bank (ECB) met this Thursday with the aim of calming tensions and addressing the uncertainty generated by the trade war. As expected, the institution chaired by Christine Lagarde announced a further cut in interest rates of a quarter of a percentage point, to 2.25%. This is the sixth consecutive rate cut since the banking institution initiated this trend last June.

The digital euro is relatively unknown, but the European Central Bank (ECB) has been working for some time to make it the next revolution in European currency. The body chaired by Christine Lagarde has been dropping hints about what it will be and how it will be implemented, but beyond the theoretical approach, the technical part is still in its infancy. However, little by little, there is more and more talk about the digital euro, also beyond the ECB. But what is the digital euro and how will it affect society?