Economic analysis and research

The Central Bank of Malta monitors and analyses economic and financial developments in Malta and abroad in support of the monetary policy of the Eurosystem and to inform economic policy making more generally.

The Economic Analysis and the Economic Research Departments are responsible for preparing reports, policy papers, and publications on economic issues. In particular, these departments comment on recent economic and financial developments in Malta and abroad in the Quarterly Review and Annual Report. The Economic Analysis Department also prepares a monthly Economic Update.

Furthermore, the Economic Analysis and the Economic Research Departments analyse economic and financial developments in the euro area in preparation for the Governor's participation in meetings of the European Central Bank's (ECB) Governing Council and General Council.

These departments also prepare policy papers and statements on economic issues for the Governor, Deputy Governors, and Senior Management. The Departments' staff meet on a regular basis with the National Statistics Office and economic sector groups to better gauge underlying developments in the economy. The outcome of discussions with sector groups is published in a quarterly Business Dialogue. More in-depth economic research is carried out for internal use and as part of the European System of Central Banks' (ESCB) research programmes. The Bank publishes an annual Research Bulletin that showcases some of this research.

In addition, the Economic Analysis Department produces macroeconomic and fiscal projections, while the Economic Research Department is responsible for developing and maintaining the Bank's econometric models and other tools used for forecasting and simulation analysis, where the impact of economic shocks on key macroeconomic variables is assessed.