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ECB’s Stournaras: Next Move Slightly More Likely Down Than Up

ECB’s Stournaras: Next Move Slightly More Likely Down Than Up

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras said in a Politico interview published Thursday that inflation was set to converge to the 2% target over the medium term and that the euro area economy “remains in a good place.”

19 February 2026

Exclusives

Insights

ECB Insight: Villeroy’s Departure Could Strengthen ECB’s Message Discipline

ECB Insight: Villeroy’s Departure Could Strengthen ECB’s Message Discipline

By David Barwick – FRANKFURT (Econostream) – François Villeroy de Galhau’s decision to step down as governor of the Banque de France in early June, announced Monday, is being treated as a personal choice to make a laudable move into social service. For European Central Bank communication, the upside may outweigh the costs.

10 February 2026
ECB Insight: Lagarde’s Exit Strategy From “Good Place”

ECB Insight: Lagarde’s Exit Strategy From “Good Place”

By David Barwick – FRANKFURT (Econostream) – An interesting thing about European Central Bank President Christine Lagarde’s press conference on Thursday was her increasingly obvious discomfort with her own creation. The “good place” mantra is being eased out of the ECB’s active vocabulary—not by contradiction, which would require quite some explaining, but by an unmistakable, ongoing distancing.

6 February 2026

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 19 February 2026

Meeting Bias

ECB Governing Council Meeting