By David Barwick – FRANKFURT (Econostream) – Not for the first time at the European Central Bank, monetary policy has come down to a matter of how much an intention is worth, but with the significant difference that on this occasion, President Christine Lagarde made an earnest effort to address this question, even if the attempt raised yet more questions.
2 February 2023
FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the relevance of fiscal policy for monetary policy. We include comments made since the December 15 Council meeting.
31 January 2023
By David Barwick – FRANKFURT (Econostream) – Rare is the European Central Bank Governing Council meeting devoid of suspense, and although the primary outcome of this week’s gathering – a 50bp hike of all key interest rates – seems a foregone conclusion, what kind of stage President Christine Lagarde will set for the subsequent meeting is well worth speculating about.
31 January 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – In a sign monetary policy tightening is working its way through to the real economy, the European Central Bank’s latest Bank Lending Survey (BLS), released Tuesday, showed declining demand for loans and tightening credit standards in the Eurozone.
31 January 2023
FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the monetary policy relevance of core inflation. We include comments made since the December 15 Council meeting.
27 January 2023
By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the appropriate pace of upcoming ECB monetary policy tightening. We include only comments made since the December 15 Council meeting.
27 January 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel cautioned on Wednesday against thinking that inflation had peaked, and confirmed the continued need for interest rate hikes.
25 January 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle said on Wednesday that he is in favour of hiking the ECB’s key interest rates by 50bp at each of the next two monetary policy meetings.
25 January 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Wednesday called for the ECB to hike rates by 50bp both in February and in March, subject to developments.
25 January 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank’s non-monetary policy Governing Council meeting originally scheduled for today has been cancelled, according to the ECB.
25 January 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Fabio Panetta pushed back on Tuesday against the idea of the ECB issuing any ‘unconditional guidance’ on its policy moves beyond February.
24 January 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday said that euro area interest rates would probably hit their terminal level by the summer.
24 January 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Tuesday suggested that high core inflation meant the ECB had to continue hiking interest rates.
24 January 2023
By David Barwick – ZAGREB (Econostream) – The European Central Bank will clearly continue hiking interest rates in the near term, Governing Council member Boris Vujčić said Tuesday.
24 January 2023
By David Barwick – FRANKFURT (Econostream) – Last month’s decline of headline German inflation is unlikely to be the start of a trend, the German Bundesbank said on Monday in its latest monthly report.
23 January 2023
By David Barwick – FRANKFURT (Econostream) – The European Central Bank has no grounds to decelerate the pace of its monetary policy tightening and should hike twice more by 50bp, Governing Council member Peter Kažimír said Monday.
23 January 2023
- Villeroy: Will continue to raise rates, perhaps at slightly slower pace than in recent months
- Villeroy: ‘Economic activity in Europe is rather resilient and better than expected’
- Villeroy: Expect inflation to be back down to 2% by the end of 2024 or 2025
- Villeroy: Hope inflation now at peak, but in any case will be there in 1H and then decline steadily
- Nagel: We will restore price stability without causing recession
- Nagel: Don’t notice monetary policy differences between Germany and France
By Xavier D’Arcy – FRANKFURT (Econostream) – ECB Governing Council member Ignazio Visco on Monday urged that the ECB implement rate hikes in a gradual manner and carefully consider the impact of further interest rate increases on all Eurozone economies.
23 January 2023