By Marta Vilar – MADRID (Econostream) – The European Central Bank Governing Council’s hitherto ironclad commitment to purely data-dependent communication devoid of forward guidance is showing first cracks.
19 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – Two weeks after the US presidential election, the uncertainty underlying insiders’ previously hesitant comments about the impact of Donald Trump’s victory on the European Central Bank’s monetary policy stance remains, but policymakers are becoming increasingly outspoken.
19 November 2024 | Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank is currently more likely than half a year ago to undershoot its target, but this is natural, ECB Governing Council member Boris Vujčić said Monday.
18 November 2024 | Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Monday said he expected multiple consecutive ECB rate cuts.
18 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank President Christine Lagarde said on Monday that the world was splitting into opposing blocs.
18 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Yannis Stournaras said on Monday that it was ‘reasonable’ to expect a 25bp cut in December, as this would be an ‘optimal reduction’.
18 November 2024 | Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Philip Lane on Monday said that the interest rate path of the ECB had succeeded in engineering disinflation in a timely manner and that the ECB had commenced tightening with more or less proper timing under circumstances of high uncertainty and imperfect knowledge.
18 November 2024 | Central Bank News
By David Barwick – DUBLIN (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Monday said that he would need a great deal of convincing to support a 50bp rate cut by the ECB at the upcoming monetary policy meeting.
18 November 2024 | Central Bank News
By David Barwick – DUBLIN (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Monday said that while the ECB still needed to deal with inflation, it could do so without hurrying and with confidence that things were no longer likely to go awry.
18 November 2024 | Central Bank News
By David Barwick – FRANKFURT (Econostream) – On Friday, the public discussion of European Central Bank monetary policy was augmented by a rare intervention from the newest member of the ECB’s Executive Board. Our reaction: déjà vu.
18 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Vice President Luis de Guindos said on Monday that the balance of risks on the macroeconomic side had switched from worries about inflation being too high to concerns about the economy.
18 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Monday that the world might be close to ‘significant escalation’ of trade tensions, but central banks would be able to control the situation.
18 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Vice President Luis de Guindos said on Saturday that the ECB had to discover why economic growth was so weak and consumption was part of the answer to that question.
16 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Executive Board member Piero Cipollone said on Friday that the ECB should be aware of both temporary and lasting economic consequences of an overly restrictive approach in its monetary policy.
15 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Fabio Panetta said on Friday that trying to divide the global economy into opposing blocs would be more detrimental than beneficial.
15 November 2024 | Central Bank News
By David Barwick and Marta Vilar – FRANKFURT (Econostream) – In the following we share views gleaned from numerous recent exchanges with European Central Bank Governing Council members regarding the current monetary policy outlook. We depart from our usual format and make key points in list form for the sake of conciseness:
14 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Vice President Luis de Guindos said on Thursday that monetary policy should be driven by the focus on the medium term, not by the desire to fine-tune.
14 November 2024 | Central Bank News
By David Barwick – FRANKFURT (Econostream) – Central banks should prioritise measures that can be easily undone to react promptly to altered circumstances, implying the continued primacy of short-term rates, European Central Bank Executive Board member Isabel Schnabel said Thursday.
14 November 2024 | Central Bank News
By Marta Vilar – MADRID (Econostream) - European Central Bank Governing Council member François Villeroy de Galhau said on Wednesday that US President-elect Donald Trump’s economic programme could bring inflation back to the US.
13 November 2024 | Central Bank News
By David Barwick and Marta Vilar – FRANKFURT (Econostream) – The European Central Bank should not deliberately set out to undershoot or overshoot its 2% inflation target, according to ECB Governing Council member Mārtiņš Kazāks.
13 November 2024 | Central Bank News