News

ECB Insight: Schnabel Gives the ECB Room to Wait

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

ECB Tone Meter Weekly Update: Governing Council and Executive Board Now "Slightly Hawkish"

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

ECB’s Schnabel: “There’s No Need to Rush into Action”

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

ECB’s Wunsch: April Hike “Not Out of the Question,” But Need More Evidence

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

ECB’s Dolenc: More Clarity by End-April Will Allow Better-Informed Discussion of Any Move

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

Transcript: Interview with ECB Governing Council member Madis Müller on 26 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

Exclusive: ECB’s Müller: “Not Sure We Need to Wait” Until Broad-Based 2d-Rd Effects “Fully Visible”

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

ECB’s Lagarde: Energy Disruption Could Last “Years”; Expecting Swift Return to Normal “Overly Optimistic”

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

ECB’s Villeroy: Markets Showed “Some Overinterpretation” on Rate-Hike Timing

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

ECB’s Šimkus, With Overwhelming Support, Reappointed to Head of Bank of Lithuania

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

ECB’s de Guindos: Iran Conflict “Key” for Policy Decisions, Will Determine if Expectations De-Anchor

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

ECB’s de Guindos: Middle East War Has Made Outlook “Significantly More Uncertain”

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

ECB’s Nagel: April Hike “Certainly an Option, But Just One Option”; Inflation Risks Rising Daily

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

ECB’s Villeroy: “Will Do What Is Necessary” to Bring Inflation Back to “a Maximum” of 2% by 2027–2028

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

ECB Insight: A Carefully Noncommittal Lagarde Prepares the Ground for April, Just in Case

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

ECB’s Rehn: Policy Response Must Reflect Broader Macro Context, Not Just Oil Prices

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

ECB’s Lane: Energy Shock Now Seen as “Medium-To-Large,” Up from Medium in Early March

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

ECB’s Lagarde Signals Potential “Measured” Action if Inflation Overshoot Is Large but Temporary

By Marta Vilar – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde said on Wednesday that the ECB could consider a “measured” policy adjustment if rising energy prices—linked to tensions in the Middle East—cause a significant but temporary spike in inflation.

25 March 2026

Transcript: Interview with KfW Head of Capital Markets Petra Wehlert on 20 March 2026

By Marta Vilar – MADRID (Econostream) – Following is the full transcript of the interview conducted by Econostream on 20 March 2026 with Petra Wehlert, Head of Capital Markets of KfW.

25 March 2026

Exclusive: KfW Head of Capital Markets: Euro Green Bond Issuance “Likely to Come Early” in Q2

By Marta Vilar – MADRID (Econostream) – German investment and development bank KfW is likely to issue another euro green bond in Q2 2026, according to KfW’s Head of Capital Markets, Petra Wehlert.

25 March 2026