Macro · Pollar

Spain's tax competitiveness slides to 34th in OECD as fiscal pressure runs 17% above EU average, business lobby warns

The IEE report, anchored on Tax Foundation data, finds Spain dropped five places since 2018 and now scores 57.9 out of 100, while household and corporate tax effort exceeds the European average by double digits.

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Macro·9h ago

German airfares jump 8.5% in first half of 2026 as kerosene costs bite

International flights from Germany cost 8.5% more in the first half of 2026, driven by expensive kerosene after the Strait of Hormuz blockade. Package tours rose more moderately at 3%.

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Macro·4d ago

NBP projects Polish inflation falling to 2.2% by 2028, GDP growth at 3.7% this year

Poland's central bank released its July projection on Friday, showing CPI declining from 2.9% at end-2026 to 2.2% by end-2028, while GDP expands 3.7% in 2026 before cooling.

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Macro·4d ago

Bank of France lifts Q2 growth forecast to 0.2% as industry and services hold up

The central bank now expects the economy to expand 0.2% in the second quarter, up from a previous estimate of stagnation, as June activity proved resilient despite a heatwave.

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Macro·4d ago

Glapiński signals rate cut possible this year, may propose 25 bp reduction in September; MPC mood 'cautious doves'

NBP President Adam Glapiński said a rate cut is probable in 2026 and he may submit a motion for a 25-basis-point reduction at the first post-summer MPC meeting, describing the council as 'cautious doves'.

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Macro·4d ago

Poland's gold reserves climb to 632.4 tonnes, NBP chief confirms 700-tonne target

The National Bank of Poland held 632.4 tonnes of gold at the end of June, worth about 308 billion złoty, president Adam Glapiński said on Thursday. The central bank is steadily buying more to reach a board-mandated target of 700 tonnes.

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Macro·3d ago

German construction prices jump 5% in May, fastest since 2023, as Iran war drives material costs higher

The price of new conventional residential buildings climbed 5% year-on-year in May, accelerating from 3.3% in February and reaching the steepest increase since summer 2023. The Federal Statistical Office cited military escalation in the Middle East as a fresh cost driver on top of earlier Ukraine-related pressures.

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Macro·Jul 3

ECB's Lagarde refuses to rule out early exit to join French presidential debate

ECB President Christine Lagarde said it was 'possible' she could step down before her term ends in October 2027 to inject a 'European voice' into France's presidential debate, reviving speculation about an early departure.

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Macro·4d ago

Eurogroup agrees to study Spanish proposal for a European safe asset despite firm rejection from the Netherlands and Finland

Spain's push for joint EU debt issuance to create a safe asset and strengthen the euro met immediate opposition from frugal states, but the Eurogroup president confirmed the proposal will be examined further in the coming months.

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Macro·from Jun 30·upd. Jul 3

German economists say coalition's 34-point reform package falls short of reviving stagnant economy

Leading research institutes warn that the tax cuts and deregulation agreed by the CDU/CSU-SPD coalition will not be enough to pull Europe's largest economy out of a three-year stagnation.

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Macro·6d ago

Italy's employment hits record high but real wages set to fall further, OECD warns

Italy's employment rate reached an all-time high of 62.8% in early 2026, yet real wages are projected to decline again this year, leaving the country with the largest purchasing-power gap among major OECD economies.

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Macro·5d ago

IMF cuts German growth forecast to 0.7% as Iran war keeps energy prices 25% above pre-war levels

The International Monetary Fund has trimmed its 2026 growth projection for Germany to 0.7%, citing the drag from elevated energy prices after the Iran conflict and the blockade of the Strait of Hormuz.

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Spain's tax competitiveness slides to 34th in OECD as fiscal pressure runs 17% above EU average, business lobby warns

German airfares jump 8.5% in first half of 2026 as kerosene costs bite

NBP projects Polish inflation falling to 2.2% by 2028, GDP growth at 3.7% this year

Bank of France lifts Q2 growth forecast to 0.2% as industry and services hold up

Glapiński signals rate cut possible this year, may propose 25 bp reduction in September; MPC mood 'cautious doves'

Poland's gold reserves climb to 632.4 tonnes, NBP chief confirms 700-tonne target

German construction prices jump 5% in May, fastest since 2023, as Iran war drives material costs higher

ECB's Lagarde refuses to rule out early exit to join French presidential debate

Eurogroup agrees to study Spanish proposal for a European safe asset despite firm rejection from the Netherlands and Finland

German economists say coalition's 34-point reform package falls short of reviving stagnant economy

Italy's employment hits record high but real wages set to fall further, OECD warns

IMF cuts German growth forecast to 0.7% as Iran war keeps energy prices 25% above pre-war levels

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