By David Barwick – FRANKFURT (Econostream) – The transitory nature of inflation is reason to take care not to prematurely remove monetary accommodation in the euro area, and flexibility in conducting asset purchases should be retained, European Central Bank Governing Council member Pablo Hernández de Cos said Monday.
November 29, 2021
By David Barwick – FRANKFURT (Econostream) – The recruitment and supply difficulties affecting French economic growth may already be starting to dissipate somewhat, according to French Treasury Chief Economist Agnès Bénassy-Quéré.
November 29, 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Monday said that euro area inflation would definitely ease starting next year.
November 29, 2021
By David Barwick – FRANKFURT (Econostream) – Euro area inflation will peak this month and then slowly go back down in 2022, European Central Bank Executive Board member Isabel Schnabel said Monday.
November 29, 2021
By David Barwick – FRANKFURT (Econostream) – The interview that came out late Friday with European Central Bank President Christine Lagarde was not devoid of insights beyond the probably futile attempt to bolster her standing among citizens of the euro area’s largest member economy, not too delighted with the ECB to begin with and now also up in arms about rates of inflation last seen almost three decades ago.
November 29, 2021
By David Barwick – FRANKFURT (Econostream) – The time is right for the European Central Bank to exit from pandemic-related emergency measures, though without quickly abandoning a very accommodative stance, Banque de France First Deputy Governor Denis Beau said Thursday.
November 26, 2021
- Insider: Tapering, hiking, then downsizing balance sheet remains central scenario
- Insider: If the situation changes, we may improve on our forward guidance if necessary
By David Barwick – FRANKFURT (Econostream) – The account of the European Central Bank’s policy meeting of 27-28 October, released by the ECB on Thursday, confirmed the preoccupation among Governing Council members with inflation and made clear that opinion differed, even if the general view was of an improved medium-term outlook.
November 25, 2021
By David Barwick – FRANKFURT (Econostream) – Although the financial system functioned well during the pandemic, existing vulnerabilities mounted and the risk of underestimating threats may have further increased, the German Bundesbank said on Thursday in its financial stability report for 2021.
November 25, 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Jens Weidmann on Wednesday spoke out strongly about inflation risks and in support of the timely withdrawal of monetary accommodation.
November 24, 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Fabio Panetta’s speech on Wednesday confirmed – not for the first time- that surprisingly little has changed about his fundamental opposition to a withdrawal of ECB policy support.
November 24, 2021
By David Barwick – PARIS (Econostream) – European Central Bank Executive Board member Fabio Panetta on Wednesday argued for continuing to deploy monetary policy to safeguard the recovery and restore pre-pandemic trend economic growth, a condition in his view for price stability, and said he saw ‘little chance of sustained inflation above 2% in the medium term.’
November 24, 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank insiders are growing less concerned about the possibility of asset purchases running up against the 33% limit on the share of individual countries’ outstanding debt the ECB can possess, based on recent conversations with Econostream.
November 24, 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Tuesday said that monetary policy should sit tight for the moment, but that a continuation of current inflation developments would strengthen the case to act.
November 23, 2021
By David Barwick – FRANKFURT (Econostream) – Today’s interview by the European Central Bank’s Isabel Schnabel offered a broad and insightful view of how the most hawkish member of the Executive Board sees various key aspects of monetary policy just three weeks before one of the most important recent meetings of the Governing Council.
November 23, 2021
- ECB insider: Council will be divided, there will be quite substantial opposition
- ECB insider: Can’t put everything on monpol’s shoulders with no-monetary-financing clause
By David Barwick – FRANKFURT (Econostream) – The European Central Bank should preserve as much as possible of the flexibility of its pandemic emergency purchase programme (PEPP) after the PEPP ends in March, Governing Council member François Villeroy de Galhau said Monday.
November 22, 2021
By David Barwick – FRANKFURT (Econostream) – The German economy is likely to put growth on hold for the moment, while consumer price inflation would remain above 3% for months to come, the German Bundesbank said on Monday in its latest monthly report.
November 22, 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday warned of the negative growth impact from the developments driving high inflation, but the clearly more important takeaway was her new optimism about the possibility of inflation eventually getting to the point where the ECB could start raising interest rates.
November 22, 2021
By David Barwick – Frankfurt (Econostream) – The Swedish National Debt Office accepts that with the government expecting a budget surplus in each of the next two years, its reduced debt issuance will contribute to less liquidity, according to Johan Bergström, Head of Funding at the NDO.
November 19, 2021