By Isabel Teles – FRANKFURT (Econostream) – Common assumptions regarding consumers' experience and expectations of inflation may not be accurately capture the variety of inflation perceptions among different socioeconomic groups, according to findings presented in a research bulletin published Tuesday by the European Central Bank.
23 July 2024
By David Barwick – FRANKFURT (Econostream) – With one sentence, European Central Bank Vice President Luis de Guindos on Tuesday seems to have established what information September has to bring for the Governing Council to cut interest rates again. Less explicitly, but to our mind nonetheless unambiguously, he conveyed the expectation that the conditions for more easing would be met eight weeks from now.
23 July 2024
By David Barwick – FRANKFURT (Econostream) – Though we wouldn’t want to overstate the importance of a single set of comments from one of the quieter members of the European Central Bank’s Governing Council, we note with interest a possible shift in the attitude of Peter Kažimír.
22 July 2024
By Isabel Teles – FRANKFURT (Econostream) – The German economy's recent downward trend is likely to give way to stabilisation in the third quarter, after having grown less than expected in the spring, the German Bundesbank said on Monday in its latest monthly report.
22 July 2024
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Peter Kažimír on Monday said that while the ECB might yet cut interest rates another two times by the end of the year, that was not a certainty.
22 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Klaas Knot on Monday said that the financial system needed to be strengthened to face underlying vulnerabilities.
22 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Sunday said that ECB did not need to rush to decide on further interest rate cuts.
21 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Friday welcomed the European Union’s revised economic governance framework highlighting the importance of fiscal policy.
19 July 2024
By David Barwick – FRANKFURT (Econostream) – The European Central Bank Governing Council has to take a patient approach to easing monetary policy, given ongoing high wage growth and services inflation, Council member Madis Müller said Friday.
19 July 2024
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Olli Rehn on Friday said that the lack of clarity about the inflation and geopolitical outlook led policymakers to wait for more information and that upside inflation risks remained.
19 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Friday said that in light of the information available today, it was reasonable to consider that the ECB would do two more interest rate cuts this year, as long as data supported it.
19 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Friday said that the ECB would remain dependent on economic data and in particular on the analysis of inflationary trends when deciding on interest rates, without committing to a predetermined path.
19 July 2024
By David Barwick – FRANKFURT (Econostream) – Having so aptly entitled our pre-ECB press conference analysis ‘No Signals, No Flags, No Guidance, No Promises’, our post-presser analysis might exude a certain satisfaction. It won’t. Instead, we see the need to very slightly modify a central prediction from Tuesday.
19 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday said that there was no predetermined path for euro area interest rates and that the next Governing Council meeting in September would bring important data.
18 July 2024
By Isabel Teles – FRANKFURT (Econostream) – The European Central Bank’s Governing Council on Thursday decided to keep its three key interest rates unchanged, as widely expected by markets and analysts.
18 July 2024
By David Barwick – FRANKFURT (Econostream) – It is a struggle to come up with much about the European Central Bank Governing Council’s current policy stance that monetary authorities are likely to want to change this week. The key interest rates should figure near the bottom of any list.
16 July 2024
By Isabel Teles – FRANKFURT (Econostream) – The European Central Bank’s latest Bank Lending Survey (BLS), released on Tuesday, showed further tightening in 1H of credit standards for loans to enterprises, and that euro area banks continued to expect a net tightening in lending conditions for the remainder of the year.
16 July 2024
By Isabel Teles – FRANKFURT (Econostream) – The European Central Bank’s Survey on the Access to Finance of Enterprises (SAFE), released Monday, showed that euro area firms expect price and wage increases to moderate and inflation to decline over a one-year horizon.
15 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Klaas Knot on Thursday said that appropriate policies were necessary to guarantee that artificial intelligence (AI) contributed positively to the economy.
11 July 2024
By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Thursday said that uncertainty was emerging as a new threat to growth and employment at the same time that the impact of inflation was fading.
11 July 2024