The ECB Governing Council decided today to increase the three key interest rates by 50 basis points. The Governing Council is monitoring current market tensions closely and stands ready to respond as necessary to preserve price stability and financial stability in the euro area.

Over the last three months for which data are available (November 2022 to January 2023), growth of imports and exports, in value terms, was 6.0% and 10.3%, respectively. The main drivers of growth are mineral products and transport equipment. The chemicals sector and diamond trade saw the greatest declines.

On the occasion of the Batibouw trade fair for building and remodeling, the National Bank has gathered all available information on the recent state of the Belgian construction and real estate market in a dynamic dashboard, with indicators and charts on topics such as mortgage loans, housing investment, employment and business sentiment in the building industry.

According to the NBB’s latest Business Cycle Monitor, the Belgian economy is projected to grow by 0.4% in the first quarter of 2023. GDP growth should continue to be driven by a strong increase in household consumption due in particular to the recovery of purchasing power.

“The mandatory sharing of parental leave encourages a fairer distribution of family responsibilities between mothers and fathers.” On International Women’s Day, our expert Maud Nautet examines this proposal by the High Council for Employment in her blog post.

The report covers the main economic, financial and monetary developments of the preceding year. Read it here or watch the videos made by our experts explaining the main themes.

Today marks the passing of one year since Russia’s invasion of Ukraine. Although the NBB is far from the front line, our activities have been affected by the war. For the past year, the NBB has been striving to assess the economic impact of the conflict and to provide accurate information.