By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Friday that core inflation looked set to remain high for a prolonged period of time in the euro area, potentially necessitating further significant interest rate hikes.
24 February 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank announced on Thursday that it incurred losses of over €1.6 billion in 2022, a deficit it had to compensate for using funds from its provision for financial risks.
23 February 2023
- KfW: Cost benefits of issuing US dollar bonds ‘not that obvious anymore’
- KfW: Optimistic that in Q2, ‘we'll find a good window’ to issue US dollar-denominated bonds
- KfW: Aim to reach average maturity of five to six years; don't plan many long-term fundings
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Wednesday that the ECB was not necessarily going to raise rates at each one of its five monetary policy meetings between now and September, by which month he expects rate hikes to end.
22 February 2023
- ECB’s Kazāks: Council retreat occasion to align our views, express our worries and perspectives
- ECB’s Kazāks: ‘The meeting in Finland will prepare us for policy decisions going forward’
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.
21 February 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde reiterated on Wednesday her determination to fight inflation and doubled down on the ECB’s data-dependent approach to monetary policy.
21 February 2023
By David Barwick – FRANKFURT (Econostream) – The European Central Bank needs to hike interest rates beyond March in view of high core inflation, but should reach the terminal rate in the summer, ECB Governing Council member Olli Rehn said on Friday.
20 February 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – Underlying inflation pressures are likely to remain persistent in the euro area, with wage increases leading to second-round effects on prices, the German Bundesbank said on Monday.
20 February 2023
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will almost inevitably have to hike interest rates by 50bp next month, when it might provide some indication of its subsequent policy moves, according to ECB Executive Board member Isabel Schnabel on Friday.
17 February 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Friday said that the ECB should hit the terminal rate by the end of September, and left open the size of any rate hikes beyond March’s likely 50bp increase.
17 February 2023
By Xavier D’Arcy – BERLIN (Econostream) – The European Central Bank should remain persistent in tackling high inflation, as the effort to restore price stability is far from being finished, Governing Council member Joachim Nagel said on Thursday.
16 February 2023
By David Barwick – FRANKFURT (Econostream) – The European Central Bank’s monetary tightening has been exerting a clear impact, ECB Executive Board member Philip Lane said Thursday.
16 February 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – Wage growth in the euro area has picked up in recent months, with the assumptions underlying the European Central Bank’s December projections being confirmed by the latest developments in the labour market, the ECB said on Thursday.
16 February 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Fabio Panetta said on Thursday that policymakers should be aware of the risk of overreacting and that smaller, non-mechanical rate hikes would allow monetary policy to avoid costly mistakes.
16 February 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Thursday said that the next set of ECB staff macroeconomic forecasts would determine the further course of monetary policy, and that there were indications of an improved outlook on the inflation front.
16 February 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pablo Hernández de Cos’ latest remarks are a reminder that the ECB is not going to hike by 50bp forever and that March, whilst probably not the time to decelerate, could be the right moment for authorities to start giving more consideration to the increasing risks of doing too much too fast.
15 February 2023
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will be better able to decide how monetary policy should evolve with the benefit of updated inflation forecasts available in March, Governing Council member Pablo Hernández de Cos said Wednesday.
15 February 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Wednesday reiterated word for word the key messages of her post-Council meeting statement earlier this month.
15 February 2023