By Marta Vilar – MADRID (Econostream) – Econostream’s ECB Tone Meter showed the Governing Council becoming less dovish this week, while the Executive Board moved back into slightly dovish territory.
7 March 2026
By David Barwick – NEW YORK (Econostream) – European Central Bank Executive Board member Isabel Schnabel’s speech on Friday at the 2026 U.S. Monetary Policy Forum was unmistakably hawkish, but not in the crude way markets might have expected after a week of surging energy prices and frantic rates repricing.
6 March 2026
By David Barwick – NEW YORK (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Friday said that the shock from the escalation of the Middle East conflict would be more concerning if it proved to be relatively lasting.
6 March 2026
By David Barwick – NEW YORK (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Friday said euro area monetary policy remained “in a good place” but warned that policymakers “cannot be complacent,” with the recent energy shock, tight labor markets and firming demand still posing upside risks to inflation over the medium term.
6 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Olaf Sleijpen said on Friday that the ECB could tolerate a modest overshoot of inflation stemming from higher energy prices linked to the Middle East conflict, just as it could accept a small undershoot.
6 March 2026
By Marta Vilar – BRUSSELS (Econostream) – Following is the full transcript of the interview conducted by Econostream on 5 March 2026 with Olli Rehn, Governor of the Bank of Finland and member of the Governing Council of the European Central Bank:
6 March 2026
By Marta Vilar – BRUSSELS (Econostream) – The Iran conflict and its economic consequences are harming global growth, and a prolonged blockade of the Strait of Hormuz could significantly impact inflation and growth, according to European Central Bank Governing Council member Olli Rehn.
6 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member José Luis Escrivá said on Friday that it is “very unlikely” the ECB will raise interest rates at its next meeting, adding that the initial inflationary effects of the Iran conflict could be offset if demand weakens.
6 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank President Christine Lagarde said on Thursday that the ECB was in a strong position to assess the economic consequences of the conflict in the Middle East.
5 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank President Christine Lagarde said on Thursday that the global economy was entering a period of “genuine uncertainty” driven by geopolitical fragmentation and rapid technological change, as a result of which the range of possible economic outcomes had widened significantly.
5 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Pierre Wunsch said on Thursday that the euro could strengthen further if it were to take on a larger international role.
5 March 2026
By Marta Vilar – BRUSSELS (Econostream) – European Central Bank Vice President Luis de Guindos said on Thursday that the baseline scenario assumes the Iran conflict will be short-lived, adding however that the uncertainty was “huge.”
5 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Thursday that he saw no current grounds for an interest rate hike.
5 March 2026
By David Barwick – VIENNA (Econostream) – European Central Bank Governing Council member Martin Kocher on February 26 said that the emergence of an inflation risk could result in a very changed inflation situation in Europe that could require a modification of ECB monetary policy.
5 March 2026
By Marta Vilar – BRUSSELS (Econostream) – European Central Bank Governing Council member Olli Rehn said on Thursday that the conflict in the Middle East would likely weaken demand and weigh on prices, while supply disruptions could pose an upside risk to inflation.
5 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Thursday that nobody should try to predict the outcome of the Iran war yet, and that the ECB should “jointly” discuss next steps.
5 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Thursday that the conflict in Iran was likely to have a greater impact on inflation than on economic growth.
5 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Olli Rehn said on Wednesday that policymakers must “keep a cool head” and avoid drawing premature conclusions about monetary policy based on financial market reactions to the conflict in the Middle East.
4 March 2026
By David Barwick and Marta Vilar – FRANKFURT (Econostream) – From today’s still-early perspective, the conflict in the Middle East looks much more likely to stiffen the European Central Bank’s caution at its March meeting than to trigger any immediate policy adjustment.
4 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Mārtiņš Kazāks said on Tuesday that there is “no need to rush” the ECB's next monetary policy decision as the Iran conflict unfolds, noting that the shock creates opposing pressures on the outlook.
3 March 2026