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May 4

ECB’s Cipollone: Tokenized Markets Need Central Bank Money at Core

ECB’s Cipollone: Tokenized Markets Need Central Bank Money at Core

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Piero Cipollone said on Monday that tokenized financial markets needed central bank money in tokenized form at their core to preserve monetary policy effectiveness, financial stability and monetary sovereignty.

4 May 2026

Debt Issuance News

May 4

April 30

April 28

ECB Tone Meter

Entire Governing Council

27 Members
Very Dovish
Very Hawkish

Executive Board

6 Members
Very Dovish
Very Hawkish

Evolution

Governing Council vs. Executive Board

As of 4 May 2026

ECB Tone Meter

Meeting Bias

ECB Governing Council Meeting

Insights

ECB Insight: De Guindos’ Praise for de Cos Keeps Getting Fainter

ECB Insight: De Guindos’ Praise for de Cos Keeps Getting Fainter

By David Barwick – FRANKFURT (Econostream) – Outgoing European Central Bank Vice President Luis de Guindos is not campaigning against former Banco de España Governor Pablo Hernández de Cos for the ECB presidency, but with each successive interview, he sounds less like someone actively supporting him.

4 May 2026
ECB Insight: June Is Live, and This Time May Be Different

ECB Insight: June Is Live, and This Time May Be Different

By David Barwick – FRANKFURT (Econostream) – Despite the weekend and the May 1 holiday in almost all euro area countries, a third of the European Central Bank’s Governing Council has spoken publicly since President Christine Lagarde’s press conference on Thursday. The message has come across: June is very live.

4 May 2026
ECB Insight: Lagarde Knows Which Way This Is Going, But Conflict’s Duration Still Matters

ECB Insight: Lagarde Knows Which Way This Is Going, But Conflict’s Duration Still Matters

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde succeeded with great skill in making Thursday’s hold by the Governing Council sound hawkish and cautious at the same time. She made clear why, absent a favorable turn in the Middle East war, the next serious policy question is likely to be when the ECB tightens, not whether it still needs to.

30 April 2026
ECB Insight: The ECB Holds, but Does Not Relax

ECB Insight: The ECB Holds, but Does Not Relax

By David Barwick – FRANKFURT (Econostream) – As expected, the European Central Bank did not raise rates on Thursday, but it did not use the announcement of its rate decision to make the hold sound comfortable.

30 April 2026