Note: Decomposition based on an affine term structure model for the US treasury and inflation-linked swap curve. Weekly data. Last observation 19-032021. 3. Spillovers to the euro area  • Now a crucial question in the conduct of our monetary policy is if and how these developments spillover to the euro area.
Indeed, we have become even more aware of the value of a member driven, grass root institution like the cooperative after witnessing the devastation caused by the greed and excess of the financial sector that resulted in the global financial crisis of 2008/09.