By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Monday said that a prolonged war in the Middle East would produce stagflationary effects for the euro area and could alter monetary-policy decisions if the shock risked feeding into broader inflation.
30 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Chief Economist Philip Lane said Monday that policymakers were assessing the Middle East energy shock in conditions materially different from those of 2022 and would respond without either hesitation or premature action.
30 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said in an interview published Monday that it was too early to discuss any specific timing for interest rate hikes, while stressing that the ECB was ready to tighten if necessary to prevent the latest energy shock from feeding into broader inflation.
30 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Friday evening made a clear case for patience without remotely taking tightening off the table. Her core message was that the ECB should not let the memory of 2022 stampede it into treating every supply-side shock as the inevitable start of another inflation spiral, especially when the starting conditions—think today—are materially different.
27 March 2026
By Marta Vilar – MADRID (Econostream) – Econostream’s ECB Tone Meter showed a notable shift in tone this week, with both the Governing Council and the Executive Board moving into what we classify as ‘slightly hawkish’ territory.
27 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Executive Board member Isabel Schnabel said on Friday that policymakers should remain cautious in responding to the latest energy-driven inflation shock, adding that there was “no need to rush into action.”
27 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Pierre Wunsch said on Friday that an interest rate hike in the April meeting remains possible, but that more evidence is needed before any decision is taken.
27 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Primož Dolenc on Friday said that last week’s decision by the ECB to leave interest rates unchanged reflected excessive uncertainty, but that by the next policy meeting at the end of April there should be more clarity, allowing a better-informed discussion of any possible move.
27 March 2026
By Marta Vilar and David Barwick – TALLINN (Econostream) – Following is the full transcript of the interview conducted by Econostream on 26 March 2026 with Madis Müller, Governor of Eesti Pank and member of the Governing Council of the European Central Bank:
27 March 2026
By David Barwick and Marta Vilar – TALLINN (Econostream) – The European Central Bank might not need to wait until broad-based second-round effects are “fully visible” before considering a rate increase, according to ECB Governing Council member Madis Müller.
27 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank President Christine Lagarde said on Thursday that expectations of a brief Middle East conflict may be misplaced, warning that its economic impact—particularly on energy supply—could endure for years.
26 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Thursday that financial markets had, to some extent, overread recent comments about the timing of possible interest rate increases, stressing that such discussions remain “premature.”
26 March 2026
By David Barwick – FRANKFURT (Econostream) – Lithuania’s parliament on Thursday reappointed European Central Bank Governing Council member Gediminas Šimkus as chair of the board of the Bank of Lithuania for a second term.
26 March 2026
By Marta Vilar – TALLINN (Econostream) – European Central Bank Vice President Luis de Guindos said on Thursday that developments in the Middle East conflict will be a decisive factor for the ECB’s monetary policy, as they will determine whether inflation expectations start to drift away from target.
26 March 2026
By David Barwick – TALLINN (Econostream) – European Central Bank Vice President Luis de Guindos on Thursday said the war in the Middle East had made the euro-area outlook for growth and inflation “significantly more uncertain,” with ECB staff now expecting growth below 1% this year and inflation of 2.6%.
26 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Thursday that raising interest rates in April was a possibility, though not guaranteed.
26 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Wednesday that the ECB would do whatever was necessary to reduce inflation to 2% or below in 2027 and 2028.
25 March 2026
By David Barwick – FRANKFURT (Econostream) – Less than a week after the European Central Bank left rates unchanged and Christine Lagarde stressed uncertainty, the ECB president on Wednesday sounded somewhat more hawkish.
25 March 2026
By Marta Vilar – FRANKFURT (Econostream) – European Central Bank Governing Council member Olli Rehn said on Wednesday that the ECB’s response to the energy shock triggered by the Middle East conflict should be guided by the broader macroeconomic environment rather than oil price movements alone.
25 March 2026
By Marta Vilar – FRANKFURT (Econostream) – European Central Bank Chief Economist Philip Lane said on Wednesday that, according to an ECB synthetic indicator, the energy shock linked to the Middle East conflict would now be classified as “medium-to-large” if assessed this week, compared with “medium” in the 11 March reading.
25 March 2026