Exclusive: Symmetrical Distribution of Key ECB Rates Optimal, But No Urgency Seen
- ECB insider: Spread calibration need not be objective of early phase of policy normalisation
- ECB insider: Huge liquidity surplus that we now have ‘is going to be there for a while’
By David Barwick – FRANKFURT (Econostream) – European Central Bank interest rates can move out of negative territory, but the process must be gradual and it is not obvious how far it can go, ECB Governing Council member Ignazio Visco said on Friday.
20 May 2022
By David Barwick – FRANKFURT (Econostream) – Net asset purchases by the European Central Bank may end in June and a first rate hike could follow in July, ECB Governing Council member Joachim Nagel said on Friday.
20 May 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Thursday said that the normalisation of monetary policy had to proceed ‘gradually and cautiously’.
19 May 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank should fairly rapidly get its interest rates out of negative territory, Governing Council member Olli Rehn said on Wednesday.
18 May 2022
By David Barwick – FRANKFURT (Econostream) – It was only ever a matter of time before someone from the European Central Bank’s Governing Council publicly floated the potential need for the ECB to consider an outsized interest rate step. That Klaas Knot took it upon himself to do so is no shocker.
17 May 2022
By David Barwick – FRANKFURT (Econostream) – In the context of the ongoing communications blitz being waged by members of the European Central Bank’s Governing Council, the convergence of views is hard to overlook and important not to underestimate.
17 May 2022
By David Barwick – FRANKFURT (Econostream) – The following is a reasonably complete compendium of the most recent comments made by European Central Bank Governing Council members with respect to monetary policy. Updates are made on a periodic basis.
16 May 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Monday said the June monetary policy meeting should be ‘decisive’ and warned against allowing the euro to weaken too much.
16 May 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will probably agree next month that net asset purchases under the asset purchase programme (APP) should end in July, and might increase official borrowing costs soon thereafter, Governing Council member Pablo Hernández de Cos said Saturday.
14 May 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Thursday said that it was time for monetary policy to act, lest high inflation cause expectations to disanchor.
12 May 2022
By David Barwick – LJUBLJANA (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Wednesday said that inflation was increasingly widespread and that there were further price pressures coming.
11 May 2022
By David Barwick – LJUBLJANA (Econostream) – European Central Bank Governing Council member Madis Müller on Wednesday urged caution with respect to the risks associated with the normalisation of monetary policy.
11 May 2022
By David Barwick – LJUBLJANA (Econostream) – European Central Bank Governing Council member Mario Centeno on Wednesday urged that monetary policy proceed in a predictable manner.
11 May 2022
By David Barwick – LJUBLJANA (Econostream) – European Central Bank President Christine Lagarde suggested on Wednesday that the ‘some time after’ of the ECB’s forward guidance needed to be defined with precision, but on balance probably just wanted to emphasise the potential imminence of a rate hike once net asset purchases end.
11 May 2022
By David Barwick – LJUBLJANA (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Wednesday said he would be in favour of moving faster to ensure that inflation doesn’t take stronger hold.
11 May 2022
By David Barwick – FRANKFURT (Econostream) – The war waged by Russia against Ukraine raises questions about the sustainability of the recovery path the economy had been on after emerging from the worst of the pandemic, European Central Bank Governing Council member Klaas Knot said Wednesday.
11 May 2022
By David Barwick – LJUBLJANA (Econostream) – European Central Bank President Christine Lagarde on Wednesday reiterated the view that the ECB’s net asset purchases should end early in 3Q, with a first rate hike to follow an indeterminate amount of time thereafter and normalisation to then proceed gradually.
11 May 2022
By David Barwick – FRANKFURT (Econostream) – Net asset purchases by the European Central Bank should end in June and be followed by a first rate hike in July, ECB Governing Council member Joachim Nagel reiterated on Wednesday.
11 May 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday said that monetary policy had to normalise in view of accelerating price pressures.
10 May 2022