Europejski Urząd Nadzoru Bankowego, Europejski Urząd Nadzoru Giełd i Papierów Wartościowych (European Securities and Markets Authority - ESMA), Europejski Urząd Nadzoru Ubezpieczeń i Pracowniczych Programów Emerytalnych (European Insurance and Occupational Pensions Authority - EIOPA), Sprawozdanie Wspólnego Komitetu w sprawie zagrożeń i słabości systemu finansowego UE - sierpień 2024 r.

JC 2024 65

JOINT COMMITTEE REPORT ON

RISKS AND VULNERABILITIES IN THE EU FINANCIAL SYSTEM

AUGUST 2024

EXECUTIVE SUMMARY AND POLICY ACTIONS

In late 2023 and early 2024, continuing declining inflation has led central banks to begin the shift towards looser monetary policy, with financial markets performing strongly in anticipation of rate cuts and an improving macroeconomic outlook, until the short-lived but sharp equity price dip in August. Considerable uncertainties nonetheless remain on the future path of economies globally, inflation and monetary policy and how these will develop across different jurisdictions. While interest rates are expected to fall, these will likely stay ‘higher-forlonger’ relative to pre-pandemic levels. In the context of continuing geopolitical events such as the Russian aggression against Ukraine, the war in the Middle East, the military tensions between China and Taiwan, and elections in the EU and the US, there is potential for sudden shifts in economic outlook...