The current environment is characterised by exceptionally low nominal interest rates in the European Union (EU), which have reached their lowest level in five decades. The decline started in the mid-1980s, when disinflation began, and then accelerated with the outbreak of the global financial...

Interest rate trends, particularly when they interact with structural vulnerabilities, may have significant systemic consequences for financial stability. The "low for long" scenario poses significant challenges because, in the long run, it is likely to challenge the profitability of most types...

The current macro-financial environment is characterised by exceptionally low, and even negative, nominal interest rates, which can have both a positive and a negative impact on the financial system and the economy. This report, in accordance with the mandate of the Task Force, discusses the...

The level of interest rates is of major importance to financial market participants, including banks. In a context where interest rates remain low for a long period of time (in one scenario over a ten-year horizon), the impact on the EU banking sector could be quite significant. In particular,...