By David Barwick – FRANKFURT (Econostream) – European Central Bank Chief Economist Philip Lane on Monday said artificial intelligence could eventually reshape productivity, investment, employment and the natural rate of interest in the euro area, but that its monetary-policy implications remained too uncertain to support any mechanical conclusion.
23 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Piero Cipollone on Monday said Europe would need tokenized central bank money, closer public-private cooperation and a stronger legal framework if it wanted to scale tokenized financial markets and turn an early lead into lasting advantage.
23 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Peter Kažimír said Monday that future policy decisions would depend crucially on how the situation in the Middle East evolved, warning that the war in Iran posed a clear risk of higher inflation and slower economic growth.
23 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos’ interview with Spanish daily El Mundo on Monday was no overt attempt to prepare markets for an April rate hike, given how closely he hewed to the meeting-by-meeting, data-dependent line. And yet, the interview does nothing to make such a decision look less conceivable.
23 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos said Monday that the war in the Middle East would have a strong impact on euro-area growth and inflation, while stressing that the ECB did not expect the shock to trigger a recession.
23 March 2026
By David Barwick – FRANKFURT (Econostream) – One day after European Central Bank President Christine Lagarde’s press conference, the flow of follow-up comments has not produced a clear consensus for action at the April 30 meeting. But it has made it clearer that a hike is a very live contingency.
20 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel said Friday that the Iran war had sharply raised inflation uncertainty via energy prices and required policymakers to remain “very vigilant,” while judging the Governing Council’s decision a day earlier to leave rates unchanged as appropriate for now.
20 March 2026
By Marta Vilar – MADRID (Econostream) – Econostream’s ECB Tone Meter showed a notable hawkish shift in the Governing Council this week, with only a minimal shift in the same direction from the Executive Board.
20 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Mārtiņš Kazāks said on Friday that the ECB would avoid rushing into policy decisions and would instead assess possible monetary policy changes in upcoming meetings, beginning in April.
20 March 2026
By David Barwick – FRANKFURT (Econostream) – A month ago, we suggested that European Central Bank Governing Council member François Villeroy de Galhau’s relentless inflation-risk rhetoric could be teeing up a call for a rate cut. Alas, his latest intervention confirms it was no joke.
20 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf denies the ECB has a tightening bias. Almost everything else about his Bloomberg interview on Friday belied that claim.
20 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Friday that a rate cut scenario could not be ruled out, though he added that it was “obviously much less likely” under current conditions.
20 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Friday said he could understand why markets were pricing in two rate hikes this year, but stressed that policymakers remained guided by incoming evidence rather than any pre-set course.
20 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Olli Rehn on Friday said the ECB had been right to leave interest rates unchanged, arguing that “any other policy decision at this stage would have been premature” given the extreme uncertainty created by the war in Iran.
20 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Primož Dolenc said Friday that the war in the Middle East had made the euro area outlook more uncertain and warned that a longer conflict could push inflation higher over the medium term.
20 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Friday that a rate hike would “probably” be needed if the inflation outlook were to worsen, a scenario he described as “conceivable.”
20 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member José Luis Escrivá said on Friday that it remains “difficult” to gauge the impact of the recent energy price surge linked to the Middle East conflict, suggesting it may not warrant an interest rate hike.
20 March 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Madis Müller said on Friday that leaving interest rates unchanged did not mean the outlook had not changed, adding that it had been “quite the opposite.”
20 March 2026
By David Barwick – FRANKFURT (Econostream) – The European Council late Thursday appointed European Central Bank Governing Council member Boris Vujčić as vice president of the ECB for a non-renewable eight-year term starting June 1, when he will replace Luis de Guindos.
19 March 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Thursday warned that a prolonged war in the Middle East would have stagflationary consequences for the euro area, saying it would mean “higher inflation and lower growth.”
19 March 2026