The international economy
The international economy is very important for us all. Why? Because many goods and services are traded across national borders in a small open economy like Austria. As a result, international developments have a direct and an indirect impact on domestic prices. That is why, for the OeNB as Austria’s central bank, the international economy is just as important as the domestic economy.
We think globally – for stability in Austria
Anyone who buys goods from abroad, pays for an app from the USA using their smartphone, or exchanges money while on holiday is taking part in the global economy. The global economy influences how much things cost in Austria – through exports and imports, cross-border capital flows and exchange rates. At the OeNB, we therefore continuously monitor and analyse developments such as globalisation, international capital flows and commodity prices. Particular emphasis is placed on Central, Eastern and Southeastern Europe, a region of special significance to Austria.
In this section
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Globalisation
Global economic trends affect us all. That is why the OeNB provides transparent information on this subject – to help policymakers and consumers make well-founded decisions.
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Exchange rates
Exchange rates determine how expensive imported goods are – from crude oil and electronics to food. They are important for price stability and financial market stability.
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Central, Eastern and Southeastern Europe
Austria has strong economic ties with Central, Eastern and Southeastern Europe (CESEE). That is why we are keeping a close eye on developments in this region.
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