Exclusive: ECB Still Likely Far from Ready to Discuss QT, But Topic Could Come up Sooner Than Expected
- ECB insider: Must see other jurisdictions’ QT experience, so ECB hawks not yet pushing the issue
26 May 2022 | Central Bank News
Latest News
ECB’ Panetta: Should End Net Purchases and Hike, But Need Gradualism and Anti-Fragmentation Tool
By David Barwick – FRANKFURT (Econostream) – The European Central Bank should end net asset purchases and then gradually get official borrowing costs out of negative territory, ECB Executive Board member Fabio Panetta said Wednesday.
25 May 2022 | Central Bank News
ECB’s de Guindos: Main Threat to EMU Financial Stability from War’s Macroeconomic Impact
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Wednesday said that the main threat to euro area financial stability stemmed from the macroeconomic ramifications of Russian military aggression
25 May 2022 | Central Bank News
ECB’s Rehn: Should Hike Deposit Rate to -0.25% in July and to Zero in the Autumn
By David Barwick – FRANKFURT (Econostream) – The European Central Bank should hike its deposit facility rate by 25 basis points in July and then by another 25 bps in the autumn, Governing Council member Olli Rehn said on Wednesday.
25 May 2022 | Central Bank News
They Said it - Recent Monetary Policy Comments Made by ECB Governing Council Members
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.
23 May 2022 | Central Bank News
ECB Insight: Lagarde Confirms Two Hikes Coming Up, Dumps Water on Programme to Contain Spreads
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Monday confirmed that the Governing Council would hike rates in July and strongly suggested that a second rate hike would take place in September.
23 May 2022 | Central Bank News
German Bundesbank Sees 2022 German HICP Around 7%, Warns of Supply Constraint Deterioration
By David Barwick – FRANKFURT (Econostream) – German consumer price growth should average around 7% this year, but supply constraints could worsen considerably yet as China grapples with the pandemic, the German Bundesbank said on Monday in its latest monthly report.
23 May 2022 | Central Bank News
Exclusive: Symmetrical Distribution of Key ECB Rates Optimal, But No Urgency Seen
By David Barwick – FRANKFURT (Econostream) – Theory prescribes no precise corridor width between the key interest rates of the European Central Bank, in the view of an ECB insider who felt that a desire to calibrate that spread was less likely to drive the magnitude of any rate moves in the earlier phase of policy normalisation.
20 May 2022 | Central Bank News
ECB’s Visco: We Will Move Out of Negative Territory, but it Is Not Obvious to Where
By David Barwick – FRANKFURT (Econostream) – European Central Bank interest rates can move out of negative territory, but the process must be gradual and it is not obvious how far it can go, ECB Governing Council member Ignazio Visco said on Friday.
20 May 2022 | Central Bank News
ECB’s Nagel: Net Asset Purchases May End in June, Rates May Rise in July
By David Barwick – FRANKFURT (Econostream) – Net asset purchases by the European Central Bank may end in June and a first rate hike could follow in July, ECB Governing Council member Joachim Nagel said on Friday.
20 May 2022 | Central Bank News
ECB’s de Guindos: ‘Need to Move Gradually and Cautiously as We Normalise’
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Thursday said that the normalisation of monetary policy had to proceed ‘gradually and cautiously’.
19 May 2022 | Central Bank News
ECB’s Rehn: Seems Necessary to Move Relatively Quickly out of Negative Territory
By David Barwick – FRANKFURT (Econostream) – The European Central Bank should fairly rapidly get its interest rates out of negative territory, Governing Council member Olli Rehn said on Wednesday.
18 May 2022 | Central Bank News
ECB Insight: Only a Question of Time Before Someone at the ECB Suggested 50 Bps Publicly
By David Barwick – FRANKFURT (Econostream) – It was only ever a matter of time before someone from the European Central Bank’s Governing Council publicly floated the potential need for the ECB to consider an outsized interest rate step. That Klaas Knot took it upon himself to do so is no shocker.
17 May 2022 | Central Bank News
ECB Insight: Convergence of Council to Smooth Road to Major Decisions, at Least for the Moment
By David Barwick – FRANKFURT (Econostream) – In the context of the ongoing communications blitz being waged by members of the European Central Bank’s Governing Council, the convergence of views is hard to overlook and important not to underestimate.
17 May 2022 | Central Bank News
They Said it - Recent Monetary Policy Comments Made by ECB Governing Council Members
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.
16 May 2022 | Central Bank News
ECB’s Villeroy: ‘Expect a Decisive June Meeting and an Active Summer’
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Monday said the June monetary policy meeting should be ‘decisive’ and warned against allowing the euro to weaken too much.
16 May 2022 | Central Bank News
ECB’s de Cos: Most Likely We Will Decide in June to End APP in July and Might Then Hike Rates Soon
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will probably agree next month that net asset purchases under the asset purchase programme (APP) should end in July, and might increase official borrowing costs soon thereafter, Governing Council member Pablo Hernández de Cos said Saturday.
14 May 2022 | Central Bank News
ECB’s Makhlouf: ‘Have Now Reached the Point When We Need to Act’
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Thursday said that it was time for monetary policy to act, lest high inflation cause expectations to disanchor.
12 May 2022 | Central Bank News
ECB’s Vasle: Inflation Widespread, With Additional Pressure in the Pipeline
By David Barwick – LJUBLJANA (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Wednesday said that inflation was increasingly widespread and that there were further price pressures coming.
11 May 2022 | Central Bank News
ECB’s Müller: Need to Be Careful as We Go About Normalising Monetary Policy
By David Barwick – LJUBLJANA (Econostream) – European Central Bank Governing Council member Madis Müller on Wednesday urged caution with respect to the risks associated with the normalisation of monetary policy.
11 May 2022 | Central Bank News