By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras said in an interview that appeared Saturday on Greek website Liberal.gr that a significant but temporary inflation overshoot would call for a measured tightening of monetary policy in the near term, while warning that the ECB could not react mechanically to higher energy prices.
16 May 2026
By Marta Vilar – MADRID (Econostream) – Econostream’s ECB Tone Meter fluctuated within slightly hawkish territory this week for the Governing Council, ultimately remaining broadly unchanged and ending just a touch more hawkish than last week, while the Executive Board edged more clearly lower but also stayed slightly hawkish.
15 May 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Mārtiņš Kazāks said on Thursday that if inflation expectations deteriorate the ECB would be “forced” to hike interest rates.
14 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Mārtiņš Kazāks said Thursday that the ECB’s April decision not to raise interest rates did not mean policymakers had decided to look through the current inflation shock.
14 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Chief Economist Philip Lane’s speech late Wednesday on energy supply shocks will come across to some as another building block in the case for a June rate hike. It is, however, more cautious than that: it takes the framework ECB President Christine Lagarde laid out in March and shows why June’s policy decision remains an open question.
14 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Wednesday said Europe’s leaders had to act on former ECB President Mario Draghi’s diagnosis of the bloc’s weaknesses, warning that Europe’s unfinished institutional architecture was being tested by a harsher global environment.
13 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Philip Lane on Wednesday said an energy-driven inflation overshoot that proved material and persistent could require a monetary policy response, while saying current evidence still showed limited broader effects from the Middle East shock.
13 May 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Madis Müller said on Wednesday that for the ECB to avoid hiking interest rates, the Strait of Hormuz would have to be opened quickly.
13 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Primož Dolenc said Wednesday that higher energy prices had so far had only limited indirect effects on the broader economy, but warned that the Middle East conflict could still push up inflation expectations and consumer prices.
13 May 2026
By David Barwick – FRANKFURT (Econostream) – We wouldn’t claim that European Central Bank Governing Council member Martin Kocher sounded on balance like a dove in our just-published interview with him, but to the extent he reflects the current thinking of Council hawks, the case for a June hike may still hang in the balance.
13 May 2026
By David Barwick and Marta Vilar – FRANKFURT (Econostream) – Following is the transcript of the interview conducted by Econostream on 11 May 2026 with Martin Kocher, Governor of the Austrian National Bank and member of the Governing Council of the European Central Bank:
13 May 2026
By Marta Vilar and David Barwick – FRANKFURT (Econostream) – A European Central Bank interest rate hike should not be considered the baseline for June, although keeping rates unchanged through year-end would be difficult if price developments failed to improve, according to ECB Governing Council member Martin Kocher.
13 May 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Wednesday that the ECB must be ready to act in order to prevent second-round inflation effects.
13 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Olli Rehn said on Wednesday that the ECB should not base monetary policy on oil prices alone, but instead assess whether the energy shock spreads to inflation expectations, wages and underlying inflation.
13 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Frank Elderson said Wednesday that Europe’s banks were being held back mainly by the lack of a genuinely unified banking market, rather than by prudential rules.
13 May 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Tuesday that “interest rate hikes will become increasingly likely” if the inflation outlook does not improve significantly.
12 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Alexander Demarco said Tuesday that the ECB’s ability to look through the latest oil shock was weakening as the Middle East conflict drags on and energy prices remain elevated.
12 May 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Frank Elderson on Tuesday said Europe’s banking sector was held back by fragmented markets rather than excessive regulation, calling for faster progress on the banking union, capital markets integration and the Single Market.
12 May 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Tuesday that large or persistent effects from the Middle East conflict on inflation would require action from the ECB.
12 May 2026
By Laura Contemori – ROME (Econostream) – European Central Bank Governing Council member Fabio Panetta was elected chair of the board of the Bank for International Settlements (BIS) for a three-year term starting June 3, the BIS said in a press release on Tuesday.
12 May 2026