From 2003 to 2025, the central banks of the United States, United Kingdom, and European Union exhibited remarkably similar interest rate patterns, reflecting shared global economic conditions. In the early 2000s, rates were initially low to stimulate growth, then increased as economies showed signs of overheating prior to 2008. The financial crisis that year prompted sharp rate cuts to near-zero levels, which persisted for an extended period to support economic recovery. The COVID-19 pandemic in 2020 led to further rate reductions to historic lows, aiming to mitigate economic fallout. However, surging inflation in 2022 triggered a dramatic policy shift, with the Federal Reserve, Bank of England, and European Central Bank significantly raising rates to curb price pressures. As inflation stabilized in late 2023 and early 2024, the ECB and Bank of England initiated rate cuts by mid-2024, and the Federal Reserve also implemented its first cut in three years, with forecasts suggesting a gradual decrease in all major interest rates between 2025 and 2026. Divergent approaches within the European Union While the ECB sets a benchmark rate for the Eurozone, individual EU countries have adopted diverse strategies to address their unique economic circumstances. For instance, Hungary set the highest rate in the EU at 13 percent in September 2023, gradually reducing it to 6.5 percent by October 2024. In contrast, Sweden implemented more aggressive cuts, lowering its rate to two percent by June 2025, the lowest among EU members. These variations highlight the complex economic landscape that European central banks must navigate, balancing inflation control with economic growth support. Global context and future outlook The interest rate changes in major economies have had far-reaching effects on global financial markets. Government bond yields, for example, reflect these policy shifts and investor sentiment. As of December 2024, the United States had the highest 10-year government bond yield among developed economies at 4.59 percent, while Switzerland had the lowest at 0.27 percent. These rates serve as important benchmarks for borrowing costs and economic expectations worldwide.

Belgium Credit Institutions: Cons: Derivatives: NA: Hedging: Interest Rate: Fair Value Hedges data was reported at 524,116.000 EUR mn in Dec 2024. This records an increase from the previous number of 503,949.000 EUR mn for Sep 2024. Belgium Credit Institutions: Cons: Derivatives: NA: Hedging: Interest Rate: Fair Value Hedges data is updated quarterly, averaging 212,148.000 EUR mn from Jun 2006 (Median) to Dec 2024, with 75 observations. The data reached an all-time high of 524,116.000 EUR mn in Dec 2024 and a record low of 97,522.000 EUR mn in Jun 2006. Belgium Credit Institutions: Cons: Derivatives: NA: Hedging: Interest Rate: Fair Value Hedges data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.KB006: Credit Institutions: Derivatives: by IFRS.

August 2024 marked a significant shift in the UK's monetary policy, as it saw the first reduction in the official bank base interest rate since August 2023. This change came after a period of consistent rate hikes that began in late 2021. In a bid to minimize the economic effects of the COVID-19 pandemic, the Bank of England cut the official bank base rate in March 2020 to a record low of *** percent. This historic low came just one week after the Bank of England cut rates from **** percent to **** percent in a bid to prevent mass job cuts in the United Kingdom. It remained at *** percent until December 2021 and was increased to one percent in May 2022 and to **** percent in October 2022. After that, the bank rate increased almost on a monthly basis, reaching **** percent in August 2023. It wasn't until August 2024 that the first rate decrease since the previous year occurred, signaling a potential shift in monetary policy. Why do central banks adjust interest rates? Central banks, including the Bank of England, adjust interest rates to manage economic stability and control inflation. Their strategies involve a delicate balance between two main approaches. When central banks raise interest rates, their goal is to cool down an overheated economy. Higher rates curb excessive spending and borrowing, which helps to prevent runaway inflation. This approach is typically used when the economy is growing too quickly or when inflation is rising above desired levels. Conversely, when central banks lower interest rates, they aim to encourage borrowing and investment. This strategy is employed to stimulate economic growth during periods of slowdown or recession. Lower rates make it cheaper for businesses and individuals to borrow money, which can lead to increased spending and investment. This dual approach allows central banks to maintain a balance between promoting growth and controlling inflation, ensuring long-term economic stability. Additionally, adjusting interest rates can influence currency values, impacting international trade and investment flows, further underscoring their critical role in a nation's economic health. Recent interest rate trends Between 2021 and 2024, most advanced and emerging economies experienced a period of regular interest rate hikes. This trend was driven by several factors, including persistent supply chain disruptions, high energy prices, and robust demand pressures. These elements combined to create significant inflationary trends, prompting central banks to raise rates in an effort to temper spending and borrowing. However, in 2024, a shift began to occur in global monetary policy. The European Central Bank (ECB) was among the first major central banks to reverse this trend by cutting interest rates. This move signaled a change in approach aimed at addressing growing economic slowdowns and supporting growth.

Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate data was reported at 7,486.000 EUR mn in Dec 2024. This records a decrease from the previous number of 8,009.000 EUR mn for Sep 2024. Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate data is updated quarterly, averaging 6,594.000 EUR mn from Jun 2006 (Median) to Dec 2024, with 75 observations. The data reached an all-time high of 13,958.000 EUR mn in Sep 2023 and a record low of 1,204.000 EUR mn in Sep 2006. Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.KB006: Credit Institutions: Derivatives: by IFRS.

Economic welfare is essential in the modern economy since it directly reflects the standard of living, distribution of resources, and general social satisfaction, which influences individual and social well-being. This study aims to explore the relationship between national income accounting different attributes and the economic welfare in Pakistan. However, this study used data from 1950 to 2022, and data was downloaded from the World Bank data portal. Regression analysis is used to investigate the relationship between them and is very effective in measuring the relationship between endogenous and exogenous variables. Moreover, generalized methods of movement (GMM) are used as the robustness of the regression. Our results show that foreign direct investment outflow, Gross domestic product growth rate, GDP per capita, higher Interest, market capitalization, and population growth have a significant negative on the unemployment rate, indicating the rise in these factors leads to a decrease in the employment rate in Pakistan. Trade and savings have a significant positive impact on the unemployment rate, indicating the rise in these factors leads to an increase in the unemployment rate for various reasons. Moreover, all the factors of national income accounting have a significant positive relationship with life expectancy, indicating that an increase in these factors leads to an increase in economic welfare and life expectancy due to better health facilities, many resources, and correct economic policies. However, foreign direct investment, inflation rate, lending interest rate, and population growth have significant positive effects on age dependency, indicating these factors increase the age dependency. Moreover, GDP growth and GDP per capita negatively impact age dependency. Similarly, all the national income accounting factors have a significant negative relationship with legal rights that leads to decreased legal rights. Moreover, due to better health facilities and health planning, there is a negative significant relationship between national income accounting attributes and motility rate among children. Our study advocated the implications for the policymakers and the government to make policies for the welfare and increase the social factors.

Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate: Fair Value Hedges data was reported at 7,482.000 EUR mn in Dec 2024. This records a decrease from the previous number of 7,997.000 EUR mn for Sep 2024. Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate: Fair Value Hedges data is updated quarterly, averaging 3,619.000 EUR mn from Jun 2006 (Median) to Dec 2024, with 75 observations. The data reached an all-time high of 13,902.000 EUR mn in Sep 2023 and a record low of 440.000 EUR mn in Sep 2006. Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate: Fair Value Hedges data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.KB006: Credit Institutions: Derivatives: by IFRS.

The size of the US Payment Cards Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 6.00">> 6.00% during the forecast period. U.S. payment cards refer to cards issued by financial institutions in the United States that enable users to conduct financial transactions, including purchases, bill payments, and money transfers. These cards come in various forms, such as credit cards, debit cards, and prepaid cards. Each type of card functions differently: credit cards allow users to borrow money up to a certain limit and pay it back with or without interest; debit cards enable direct access to funds from the user’s bank account; and prepaid cards require the user to load funds onto the card before using it for purchases. Credit cards are widely used in the U.S. and offer revolving credit, where users can carry a balance from month to month. They often come with benefits like rewards programs, travel perks, and fraud protection. However, they also come with potential drawbacks, such as high-interest rates if balances are not paid in full. Debit cards, linked directly to a checking or savings account, are used to withdraw money from ATMs or to make purchases, with the transaction amount deducted immediately from the account. Prepaid cards are similar to debit cards but require users to load money onto the card before spending it. Recent developments include: On June 2022, Global digital payments firm Visa and Safaricom, the operator of the M-Pesa mobile money product, have today launched a virtual card, enabling millions of M-Pesa users to make digital payments globally including the US region. The virtual card will enable 30 million M-Pesa users to make cashless payments at Visa's global network of merchants. Users can activate the virtual card through the M-Pesa mobile app or by USSD., On April 2022, American Express Partners with Billtrust to offer suppliers a solution to accounts receivable challenges. B2B accounts receivable automation and integrated payments leader, to enable suppliers to streamline acceptance of American Express virtual cards. With this integration, suppliers will have the ability to automate and accelerate virtual card payments from customers while receiving a real-time view of their outstanding invoices and current cash flow.. Key drivers for this market are: Usage of Credit Card give the bonus and reward points. Potential restraints include: Interest rates on Credit Card. Notable trends are: Increase in the Penetration of Internet in the USA.

Belgium Credit Institutions: Cons: Derivatives: CA: DL: Hedging: Interest Rate data was reported at 10,479.000 EUR mn in Dec 2024. This records a decrease from the previous number of 10,720.000 EUR mn for Sep 2024. Belgium Credit Institutions: Cons: Derivatives: CA: DL: Hedging: Interest Rate data is updated quarterly, averaging 12,113.000 EUR mn from Jun 2006 (Median) to Dec 2024, with 75 observations. The data reached an all-time high of 20,661.000 EUR mn in Mar 2015 and a record low of 819.000 EUR mn in Mar 2007. Belgium Credit Institutions: Cons: Derivatives: CA: DL: Hedging: Interest Rate data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.KB006: Credit Institutions: Derivatives: by IFRS.

Auto Loans Services Market Outlook

The global auto loans services market size is projected to grow from $1.2 trillion in 2023 to $2.4 trillion by 2032, reflecting a compound annual growth rate (CAGR) of 7.1% during the forecast period. This significant growth is attributed to increasing vehicle sales worldwide, coupled with consumer preference for financing options that offer flexible repayment terms and competitive interest rates. The ongoing economic recovery post the COVID-19 pandemic and technological advancements in the financial sector are further expected to drive the market's expansion.

One of the primary growth factors in the auto loans services market is the rising demand for vehicles. As economies recover and consumer confidence grows, the automotive industry sees a surge in new vehicle sales. Additionally, the global trend towards urbanization has resulted in increased personal and commercial vehicle ownership, driving the need for auto loans. Furthermore, the rise in disposable incomes, particularly in emerging economies, has enabled more consumers to afford new and used vehicles through financing options. The increasing acceptance of electric vehicles (EVs) also positively influences auto loan demands, as governments and manufacturers offer incentives to promote EV adoption.

Technological advancements in the auto loans sector have played a crucial role in market growth. The emergence of online lending platforms and fintech innovations has revolutionized the way consumers access auto loans. Digital applications streamline the loan approval process, making it faster and more efficient. Additionally, advanced data analytics and AI-driven credit scoring models enable lenders to assess borrower risk more accurately, leading to better loan terms and reduced default rates. This technological evolution enhances customer experience and broadens the market's reach by catering to a more tech-savvy audience.

Another significant factor driving the auto loans services market is the competitive landscape among lenders. Traditional financial institutions like banks and credit unions are now facing stiff competition from non-traditional online lenders and dealership financing options. This competition has led to more attractive loan packages, including lower interest rates, flexible repayment plans, and additional services such as insurance and maintenance packages bundled with loans. As a result, consumers benefit from a wider range of options, making auto loans more accessible and appealing.

Regionally, North America and Europe account for substantial shares of the auto loans services market, driven by high vehicle ownership rates and robust financial sectors. However, emerging markets in the Asia Pacific and Latin America regions are witnessing rapid growth due to increasing urbanization, rising middle-class populations, and improving financial infrastructures. For example, China and India are experiencing significant increases in vehicle sales, directly boosting demand for auto loans. The Middle East & Africa region, although smaller in market size, shows potential for growth due to economic diversification and infrastructure development efforts.

Type Analysis

The auto loans services market can be segmented by type into direct lending and indirect lending. Direct lending involves financial institutions providing loans directly to consumers, typically through a bank or credit union. This type of lending offers borrowers the advantage of dealing directly with their financial institution, which can lead to better customer service and potentially more favorable loan terms. Direct lenders often have more stringent credit requirements but may offer lower interest rates, making them a preferred choice for consumers with strong credit profiles.

Indirect lending, on the other hand, involves third parties such as dealerships facilitating the loan process on behalf of financial institutions. This type of lending is highly convenient for consumers as it allows them to secure financing directly at the point of sale. Indirect lenders often partner with multiple financial institutions, providing a range of loan options to suit different credit profiles. While the convenience factor is a significant advantage, indirect loans can sometimes come with higher interest rates and additional fees due to the involvement of intermediaries.

The market dynamics between direct and indirect lending are influenced by various factors, including consumer preferences, economic conditions, and regulatory environments. For instance, during ec

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest *** trillion U.S. dollars at the end of 2007, it ballooned to approximately **** trillion U.S. dollars by July 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic - both of which resulted in negative annual GDP growth in the U.S. - showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached ***** percent in 2022, the highest since 1991. However, by *********, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in ***********, before the first rate cut since ************** occurred in **************. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2023, the Fed reported a negative net income of ***** billion U.S. dollars, a stark contrast to the ***** billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over *** billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of ****** billion U.S. dollars in the same year.

This paper proposes a flexible-price theory of the role of money in an economy with incomplete idiosyncratic risk sharing. When the risk premium goes up, money provides a safe store of value that prevents interest rates from falling, reducing investment. Investment is too high during booms when risk is low, and too low during slumps when risk is high. Monetary policy cannot correct this—money is superneutral and Ricardian equivalence holds. The optimal allocation requires the Friedman rule and a tax/subsidy on capital. The real effects of money survive even in the cashless limit.

Hard Money Loans

If you’re looking for fast funding solutions that won’t dig deep into your long credit history, then hard money loans are a great option to consider. The loans are offered based on the property value rather than your personal credit score. You can get approved within a few days to a couple of weeks depending on the institution you’re working with.

To get the best services, you should start by searching for reputable loans like Pacific Northwest Capital acquisition loans that have a good track record of financing different acquisitions. The main downside of hard money loans is their high interest rates that can range between 9% and 20%. You’ll also be using the property being flipped as collateral, putting all your investment at risk in case you fail to pay.

Abstract (en): We show how changes in the volatility of the real interest rate at which small open emerging economies borrow have an important effect on variables like output, consumption, investment, and hours. We start by documenting the strong evidence of time-varying volatility in the real interest rates faced by four emerging economies: Argentina, Brazil, Ecuador, and Venezuela. We estimate a stochastic volatility process for real interest rates. Then, we feed this process in a standard small open economy business cycle model. We find that an increase in real interest rate volatility triggers a fall in output, consumption, investment, hours, and debt. (JEL E13, E20, E32, E43, F32, F43, 011)

Business brokers endured significant hardship amid economic headwinds, slumping new deal volumes and the persistent effects of national interest rates on businesses’ acquisition capacity. Despite the higher access to credit, business brokers endured sharp declines, particularly in 2022 and 2023, due to inflationary spikes, rising interest rates and an inconsistent mergers & acquisition (M&A) climate. In contrast to merger and acquisition advisers, business brokers focus on companies valued at less than $2.0 million, often finding the ultimate buyer near the company's location. According to S&P Global, overall transaction values slumped to $1.0 trillion in 2024 from a high of $1.8 trillion in 2021, which limited the range of lucrative contracts available for brokers and bolstered local competition across the small business space. The acceleration of interest rates in 2022 and 2023 to combat inflation also curtailed small businesses’ fiscal flexibility and lowered commission revenue from business transactions for brokers. Revenue fell at a CAGR of 3.3% to an estimated $1.0 billion over the past five years, including an estimated 1.8% boost in 2025 alone. Brokers’ lack of market concentration continues to influence the national landscape. In 2022, 47.6% of all business brokers were nonemploying establishments, which traditionally earn between 5.0% and 10.0% of the ultimate sale price in commission. In recent years, optimism surrounding the business-for-sale market has increased among business brokers; however, the effects of high interest rates and a restrictive borrowing environment remains the biggest barrier to further growth, according to the IBBA. A slowdown in the M&A space, coupled with greater proliferation of DIY alternatives, caused profit to stagnate. Moving forward, the continued uncertainty surrounding interest rates, higher borrowing costs and deceleration in the number of businesses and aggregate private investment is expected to yield slower revenue growth. Nonetheless, the continuity of lower middle market (LMM) transaction demand, coupled with favorable demographic trends, will benefit brokers. A rapidly rising retiree population, as evident by the anticipated 2.4% boost in adults over the age of 65, will generate more business sale opportunities across different geographies. The expansion of technology will allow brokers to expand service efficiency, reducing dependence on manual labor by automating remedial tasks such as data gathering and market research. However, local competitors and the continued presence of DIY alternatives will dampen larger growth. Revenue is expected to grow at a CAGR of 2.0% to an estimated $1.2 billion over the next five years.

Loan administration and cheque cashing services endured mixed results amid economic volatility during the pandemic and the continued effects of high interest rates on Canadian businesses and consumers alike. Canadian consumers' appetite for debt has boosted the industry by sustaining demand for consumer financing, mortgages and cash services for businesses. However, sharp economic volatility in 2020 forced consumers and businesses to shift their borrowing preferences away from traditional banking clients, causing revenue to spike in 2020. While a temporary economic recovery in 2021 caused consumers to revert back to traditional financial norms, the effects of high inflation and interest rates severely influenced how clients pursue their financial goals. Broader growth in core loan vehicles, such as auto loans and mortgages, in 2024 further cemented administrator demand. Nonetheless, continued competition from digital alternatives and external competitors curtailed larger rates of growth, with revenue rising an annualized 3.2% to an estimated $1.8 billion through the end of 2024, including an estimated 2.1% boost in 2024 alone. Profit followed a similar trend, as higher rates of loan demand and lowering of operational expenses facilitated greater profitability for administrators. Canadian GDP growth has largely been driven by trends in consumption. As interest rates spiked in 2023, Canadians have had to alter their spending habits and patterns. The continued upward push of Canadians living paycheck to paycheck further discouraged demand for traditional banks and provided a more diversified revenue stream among younger and underbanked consumers. This reliance on debt to make monthly payments also provides administrators with steady demand for their payday loan offerings. But in an environment where most payday loans made are to consumers with a higher probability of default, mounting household debt runs the risk of insolvency and industry contraction. Additionally, mounting external competition from digital payment platforms undermined administrator demand, with consumers having more opportunities via digital platforms to meet their digital needs. Moving forward, loan administration and cheque cashing services will continue to benefit from uncertainty surrounding interest rates and general economic shakiness among downstream customers. However, anticipated changes in regulations surrounding payday loans and interest rates will enhance compliance costs and curtail profitability. Lastly, increased external competition from commercial banks, credit unions and emerging financial technology companies via payment platforms like Zelle and Venmo will likely put downward pressure on niche services such as cheque cashing, money order issuance, travellers' cheque issuance and payday loans. Revenue is expected to fall an annualized 2.4% to an estimated $1.6 billion through the end of 2029.

Belgium Credit Institutions: Cons: Derivatives: NA: Hedging: Interest Rate: Cash Flow Hedges data was reported at 17,005.000 EUR mn in Dec 2024. This records a decrease from the previous number of 18,357.000 EUR mn for Sep 2024. Belgium Credit Institutions: Cons: Derivatives: NA: Hedging: Interest Rate: Cash Flow Hedges data is updated quarterly, averaging 93,535.000 EUR mn from Jun 2006 (Median) to Dec 2024, with 75 observations. The data reached an all-time high of 240,955.000 EUR mn in Mar 2007 and a record low of 2,265.000 EUR mn in Jun 2015. Belgium Credit Institutions: Cons: Derivatives: NA: Hedging: Interest Rate: Cash Flow Hedges data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.KB006: Credit Institutions: Derivatives: by IFRS.

Monetary policy is generally regarded as a central element in the attempts of policy makers to attenuate business-cycle fluctuations. According to the New Keynesian paradigm, central banks are able to stimulate or depress aggregate demand in the short run by adjusting their nominal interest rate targets. The effects of interest rate changes on aggregate consumption, the largest component of aggregate demand, are well understood in the context of this paradigm, on which the canonical "workhorse'' model used in monetary policy analysis is grounded. A key feature of the model is that aggregate consumption is fully described by the amount of goods consumed by a representative household. A decline in the policy rate for instance implies that the real interest rate declines, the representative household saves less and hence increase its demand for consumption. At the same time, general equilibrium effects let labour income grow causing consumption to increase further. However, the mechanism outlined above ignores a considerable amount of empirically-observed heterogeneity among households. For example, households with a higher earnings elasticity to interest rate changes benefit more from a rate cut than those with a lower elasticity; households with large debt positions are at a relative advantage over households with large bond holdings; and households with low exposure to inflation are relatively better off than those holding a sizeable amount of nominal assets. As a result, the contribution to the aggregate consumption response differs substantially across households, implying that monetary expansions and tightenings produce relative "winners'' and relative "losers''. The aim of the project laid out in this proposal is to give a disaggregated account of the heterogeneous effects of monetary-policy induced interest rate changes on household consumption and a detailed analysis of the channels underlying them. Additionally, it seeks to draw conclusions about the determinants of the strength of the transmission mechanism of monetary policy. To do so, it relies on a large panel comprising detailed data from the universe of all households residing in Norway between 1993 and 2015 supplemented with additional micro-data provided by the European Commission. I will be assisted by two project partners, Pascal Paul who is a member of the Research Department of the Federal Reserve Bank of San Francisco and Martin Holm who is affiliated with the Research Unit of Statistics Norway and the University of Oslo. In addition, I would like to collaborate with and help train a doctoral student based at the University of Lausanne on this project. Existing empirical studies of the consumption response to monetary policy at the micro level rely on survey data. Therefore, they are subject to a number of severe data limitations. The surveys employed typically have either no or only a short panel dimension, suffer from attrition, include only limited information on income and wealth, are top-coded, and contain a significant amount of measurement error. The administrative data set provided to us by Statistics Norway suffers from none of these issues, implying that we are in a unique position to evaluate the household-level effects of policy rate changes. In a first step, we use forecasts published by the Norwegian central bank to derive monetary policy shocks that are robust to the simultaneity problem inherent in the identification of the effects of monetary policy following Romer and Romer (2004). We then confront the micro-data with the estimated shocks to study the consumption response along different segments of the income and wealth distribution and to test the importance of heterogeneity in labour earnings, financial income, liquid assets, inflation exposure and interest rate exposure among others. The findings will be of high relevance as they will not only allow us to evaluate channels hypothesised in the analytical literature, improve our understanding of the monetary policy transmission mechanism and its distributional consequences but also serve as a benchmark for structural models built both by theorists and practitioners.

Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate: Cash Flow Hedges data was reported at 5.000 EUR mn in Dec 2024. This records a decrease from the previous number of 12.000 EUR mn for Sep 2024. Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate: Cash Flow Hedges data is updated quarterly, averaging 2,626.000 EUR mn from Jun 2006 (Median) to Dec 2024, with 75 observations. The data reached an all-time high of 5,247.000 EUR mn in Dec 2012 and a record low of 5.000 EUR mn in Dec 2024. Belgium Credit Institutions: Cons: Derivatives: CA: DA: Hedging: Interest Rate: Cash Flow Hedges data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.KB006: Credit Institutions: Derivatives: by IFRS.

The Dow Jones U.S. Technology Capped index is predicted to continue its upward trend, driven by continued growth in the technology sector. However, there are downside risks to consider, including rising interest rates, a global economic slowdown, and increased regulatory scrutiny.

Belgium Credit Institutions: Cons: Derivatives: NA: Held for Trading: Interest Rate data was reported at 1,289,274.000 EUR mn in Dec 2024. This records an increase from the previous number of 1,262,680.000 EUR mn for Sep 2024. Belgium Credit Institutions: Cons: Derivatives: NA: Held for Trading: Interest Rate data is updated quarterly, averaging 2,558,175.000 EUR mn from Jun 2006 (Median) to Dec 2024, with 75 observations. The data reached an all-time high of 9,198,498.000 EUR mn in Dec 2008 and a record low of 1,189,813.000 EUR mn in Jun 2022. Belgium Credit Institutions: Cons: Derivatives: NA: Held for Trading: Interest Rate data remains active status in CEIC and is reported by National Bank of Belgium. The data is categorized under Global Database’s Belgium – Table BE.KB006: Credit Institutions: Derivatives: by IFRS.