Firms reported further net tightening of bank loan interest rates and other loan conditions related to price and non-price factors. Financing needs remained stable, but availability of bank loans deteriorated marginally. Firms expected stronger increases in selling prices and non-labour input costs, whereas wage expectations moderated slightly. Short-term inflation expectations increased markedly, with medium-term inflation expectations remaining stable. In the most recent round of the Survey on the Access to Finance of Enterprises (SAFE), covering the first quarter of 2026, euro area firms reported a net increase in ... (full story)