ECB’s Nagel: Hiking Won’t End in March; Don’t Expect Rate Cuts Soon

By Xavier D’Arcy – FRANKFURT (Econostream) – Governing Council member Joachim Nagel pushed back on Tuesday against suggestions that the European Central Bank’s hiking cycle could end after its pre-announced 50bp hike in March, and dismissed the possibility of rate cuts anytime soon.

ECB in Better Position to Tackle Inflation Now, Villeroy Says

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Tuesday that recent economic developments in the Eurozone were facilitating monetary policy’s fight against high inflation.

ECB: Long-Term Consumer Inflation Expectations Edge Upwards

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank’s Consumer Expectations Survey results for December 2022, released on Tuesday, show consumers’ long-term inflation expectations rising slightly, whilst their outlook for the immediate term remains high.

Rate Hikes Not Yet Clearly Showing Enough Impact on Inflation, ECB’s Schnabel Says

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel questioned on Tuesday whether the impact of monetary policy tightening to date would return euro area inflation to 2%.

ECB’s Holzmann: ‘Risk of Overtightening Seems Dwarfed by the Risk of Doing too Little’

By David Barwick – BUDAPEST (Econostream) – The European Central Bank’s monetary policy remains subject to a much larger risk from doing too little than from doing too much, according to Governing Council member Robert Holzmann on Monday.

ECB Rate Hike in May Not Certain Yet, Reinesch Says

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Gaston Reinesch said on Friday that a rate hike in May is a possibility, though not yet a certainty.

ECB’s Holzmann: Can Probably Reach the Terminal Rate in 3Q At the Latest

By David Barwick – FRANKFURT (Econostream) – The European Central Bank still has a considerable way to go, possibly even until the third quarter, to reach the terminal rate of the current hiking cycle, according to Governing Council member Robert Holzmann late Friday.

Visco Says ECB Should Be Risk-Aware But Can Proceed with Caution on Rate Hikes

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Ignazio Visco said on Saturday that central bankers must carefully balance the risks associated with tightening monetary policy but called for the ECB’s monetary policy tightening to proceed ‘with suitable caution’.

ECB’s Wunsch: Need a Terminal Rate of at Least 3.5% If Core Remains Persistently High

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pierre Wunsch on Tuesday said that the ECB’s terminal rate needed to be at least 3.5% if core inflation did not retreat.

ECB’s Šimkus: ‘March Is an Intention but Not a Commitment’

By David Barwick – FRANKFURT (Econostream) – A rate hike of 50bp next month by the European Central Bank is the current plan, but is not a promise, according to ECB Governing Council member Gediminas Šimkus.

ECB’s Müller: 50BP March Rate Hike Likely, Based on Current Knowledge

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Friday said that the ECB was likely to repeat yesterday’s 50bp rate hike next month, according to currently available information.

ECB’s Rehn: We Said We’d Hike by 50BP in March, But We’ll Also Consider New Forecasts

By David Barwick – FRANKFURT (Econostream) – The European Central Bank has said it would hike rates by another 50bp next month, but it would also take into account the updated staff macroeconomic forecasts, ECB Governing Council member Olli Rehn said on Friday.

ECB’s Kažimír: March Hike Won’t Be Last, But Depending on Forecasts, Can Start in June to Talk of Success

By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to continue to hike interest rates beyond March, but might be able to start considering its efforts as having borne fruit if the March and June forecasts cooperate, Governing Council member Peter Kažimír said Friday.

ECB’s Vasle Says Rates to Rise 50BP in March, Stay at Restrictive Levels

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle said on Friday that he expects key interest rates to rise again by 50bp in March and remain in restrictive territory to ensure inflation falls back to the ECB's 2% target.

ECB Insight: Once Again, the Governing Council Has an Intention

By David Barwick – FRANKFURT (Econostream) – Not for the first time at the European Central Bank, monetary policy has come down to a matter of how much an intention is worth, but with the significant difference that on this occasion, President Christine Lagarde made an earnest effort to address this question, even if the attempt raised yet more questions.

ECB Hawk-Dove Ranking: Lagarde, Lane and other Governing Council Members Reranked

They Said It About Fiscal Policy - Recent Comments of Governing Council Members

FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the relevance of fiscal policy for monetary policy. We include comments made since the December 15 Council meeting.

ECB’s Governing Council Likely Still Inclined to Hike Significantly at a Steady Pace

By David Barwick – FRANKFURT (Econostream) – Rare is the European Central Bank Governing Council meeting devoid of suspense, and although the primary outcome of this week’s gathering – a 50bp hike of all key interest rates – seems a foregone conclusion, what kind of stage President Christine Lagarde will set for the subsequent meeting is well worth speculating about.

ECB: Banks Limit Credit Most Since Debt Crisis as Mortgage Demand Sees Record Fall

By Xavier D’Arcy – FRANKFURT (Econostream) – In a sign monetary policy tightening is working its way through to the real economy, the European Central Bank’s latest Bank Lending Survey (BLS), released Tuesday, showed declining demand for loans and tightening credit standards in the Eurozone.

They Said It About Core Inflation - Recent Comments of Governing Council Members

FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the monetary policy relevance of core inflation. We include comments made since the December 15 Council meeting.