Latest News

Exclusive: ECB’s Kazāks: In No Hurry to Start Active Sales of Balance Sheet Assets

- Kazāks: PEPP reinvestment important for flexibility reasons
- Kazāks: No need for any changes to the PEPP reinvestment at the moment
- Kazāks: Balance sheet adjustment ‘very much driven by the TLTROs’
- Kazāks: Fiscal policy must become less expansionary, or rates will have to go up even more
- Kazāks: Rates should stay high ‘as long as inflation is not significantly undershooting the target’
- Kazāks: Expectation of rate cut in 1H 2024 ‘inconsistent with the baseline macro scenario’
- Kazāks: ‘We will not be done, in my view, in July, and there will be more rate hikes necessary’
- Kazāks: ‘If necessary, we can take a pause and then return to rate hikes’
- Kazāks: ‘The risks of doing too little are higher than the risks of doing too much’
- Kazāks: Lagarde ‘very skilful in getting almost all of us behind every one of our decisions’

28 June 2023 Central Bank News

ECB Confident of ‘Some Kind of Soft Landing Which Is Not Immaculate’, Villeroy Says

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank is confident of achieving a soft landing, though the return to price stability will not be without pain, Governing Council member François Villeroy de Galhau said on Wednesday.

28 June 2023 Central Bank News

ECB Unlikely To Be Certain About Reaching Terminal Rate, Lagarde Says

By Xavier D’Arcy – SINTRA, Portugal (Econostream) – The European Central Bank will likely keep the door open to further hikes rather than announce an end to its tightening cycle, due to uncertainty surrounding the persistence of inflation, ECB President Christine Lagarde said on Tuesday.

27 June 2023 Central Bank News

Exclusive: ECB Insiders: July Rate Hike Increasingly Seen as Not Enough

- ECB Insiders: Two of Three Surveyed Inclined to Hike Anew in September
- ECB Insiders Reject Market Expectations of Initial Easing Move in 1H 2024
- ECB Insiders Want to Leave Interest Rates at Terminal Level for Some Time
- ECB Insiders: July Rate Hike More or Less a Given

26 June 2023 Central Bank News

Next Phase of Inflation Fight Will Be Toughest, BIS tells Central Banks

By Xavier D’Arcy – FRANKFURT (Econostream) – The Bank for International Settlements said on Sunday that monetary policy still faced a difficult task in getting inflation under control, with the final phase of disinflation likely to prove the most difficult.

26 June 2023 Central Bank News

ECB’s Šimkus: Would Not Be Surprised If Council Discussed Hiking in September

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gediminas Šimkus on Monday reiterated that he would not be surprised if the ECB discussed a further tightening of monetary policy at the September meeting.

26 June 2023 Central Bank News

ECB’s de Guindos: Whether Rate Hikes End in July Hinges on Data; Underlying Inflation Critical

By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Sunday said that the end of rate hikes was not far and that whether it would be reached in July depended on incoming information, in particular with respect to underlying inflation.

25 June 2023 Central Bank News

ECB Governors Think More Hikes Likely in Autumn, But I'll Await Data Before Deciding, Makhlouf Says

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf said on Saturday that although many of his fellow governors were pushing for hikes in the autumn, he was awaiting further data before making a decision.

24 June 2023 Central Bank News

They Said It - Recent Comments of ECB Governing Council Members

By David Barwick – FRANKFURT (Econostream) – The following is an overview of recent comments made by European Central Bank Governing Council members. We include only comments made since the Governing Council meeting of 15 June, but earlier comments can still be seen in versions up to that of 9 June .

23 June 2023 Central Bank News

ECB’s de Cos: Will Have to Hike Again in July, Can’t Anticipate Decisions Thereafter

By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to tighten monetary policy again next month, but what happens after that cannot be predicted, ECB Governing Council member Pablo Hernández de Cos said Friday.

23 June 2023 Central Bank News

Eurozone Wages Are Just Catching Up, No Sign of a Spiral, ECB’s Lane Says

By Xavier D’Arcy – FRANKFURT (Econostream) – Current Eurozone labour market developments do not constitute a wage-price spiral, though they might slow down the return of inflation to the European Central Bank’s 2% target, ECB Executive Board member Philip Lane said on Friday.

23 June 2023 Central Bank News

Rates Need To Rise Further as Projections Show Us Missing Target, Nagel Says

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank is set to miss its inflation target as things stand, ECB Governing Council member Joachim Nagel said on Thursday.

22 June 2023 Central Bank News

ECB Must Avoid ‘First Order Error’ of Stopping Inflation Fight Too Early, Nagel Says

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank should be wary not to give up too early in the fight against currently high inflation, even if a side effect of monetary policy tightening is some economic pain, ECB Governing Council member Joachim Nagel said on Wednesday.