By David Barwick – FRANKFURT (Econostream) – Under normal circumstances, one month’s HICP even for the entire Eurozone, let alone for any individual economy, would have few implications for the European Central Bank’s monetary policy.
30 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Far from talking down the possibility of rates lift-off this year, European Central Bank Chief Economist Philip Lane on Tuesday conceded explicitly that while no given, a first hike in 2022 was at least possible.
29 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank has more room to wait after ending net asset purchases before starting to hike interest rates, ECB Governing Council member Pablo Hernández de Cos said Tuesday.
29 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Saturday denied any ‘material risk’ that the euro area would enter stagflation due to the Russian war of aggression against Ukraine.
28 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday said that the ECB was keeping all its options open, but that monetary policy normalisation was coming, depending on the data.
25 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Bank of Canada Deputy Governor Sharon Kozicki on Friday said that Canadian monetary authorities would discuss the specifics of rate hikes and of quantitative tightening at their next meeting.
25 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The following is a reasonably complete compendium of the most recent comments made by European Central Bank Governing Council members with respect to monetary policy. Updates are made on a periodic basis.
25 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – That European Central Bank Executive Board member Frank Elderson would avoid staking out controversial positions in his speech Thursday was probably inevitable, but in some subtle respects his messaging appeared consistent with the at least mildly hawkish stance we expected a priori.
24 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The sore subject of the trustworthiness of the European Central Bank’s staff macroeconomic forecasts is flaring up again following the publication of projections two weeks ago implying that medium-term euro area HICP would be so obliging as to emerge from the current extreme turbulence at levels conveniently consistent with the ECB’s 2% price stability target.
24 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Thursday said he wouldn’t be surprised if the ECB ultimately hiked interest rates this year.
24 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Three weeks after our last review of where each European Central Bank Governing Council member stands on whether or not to start hiking interest rates this year, we re-examine the question. Our finding, summed up: the more things change, the more they stay the same.
23 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank had to take some action in view of concerns about the potential for inflation expectations and wage agreements to be negatively influenced, ECB Governing Council member Yannis Stournaras said Tuesday.
22 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday said that monetary policy had to continue the process of gradual normalisation.
22 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Tuesday suggested that limited European financial exposure to Russia meant that the main impact of Russian military aggression against Ukraine would be macroeconomic.
22 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Tuesday stuck to a reiteration of previously expressed views regarding the impact of Russian aggression on growth and inflation and key considerations for monetary policy.
22 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Euro area HICP in 2024 of 1.9%, as currently projected by the European Central Bank, is not out of the question, but is also not too likely, ECB Governing Council member Robert Holzmann suggested on Tuesday.
22 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Key interest rates of the European Central Bank could be hiked this year if asset purchases end as currently foreseen, ECB Governing Council member Joachim Nagel said on Monday.
21 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will be guided by data in its decision-making and must thus make a ‘final decision’ yet about when net asset purchases should come to an end, Governing Council member Mario Centeno said Wednesday.
21 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – There was no secret motive behind the recent change in wording of the European Central Bank’s forward guidance, Econostream understands.
21 March 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Russia’s war of aggression against Ukraine will lead to a more or less stagnant 1Q and a considerably weaker 2Q for Germany's economy, the German Bundesbank warned on Monday in its latest monthly report.
21 March 2022 Central Bank News