By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Friday declined to either endorse or refute expectations that the Governing Council would hike interest rates by another 75bp in October.
16 September 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Thursday warned again and again of the possibility that inflation expectations could dis-anchor against the backdrop of persistently elevated spot inflation readings and mainly upside risks.
15 September 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Thursday said that if there were a recession at all, it would be shallow and followed quickly by a strong recovery.
15 September 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Mario Centeno on Thursday argued that the ECB’s monetary policy enjoyed sufficient credibility to make high real interest rates unnecessary to get inflation back down.
15 September 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Wednesday said that interest rates in the Eurozone could be below or close to 2% by the end of the year.
14 September 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Wednesday said that the negative effects of high inflation would only become worse if the ECB deferred the tightening of monetary policy.
14 September 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will need to continue hiking interest rates in the context of higher energy prices, faster wage growth and a weaker euro, ECB Chief Economist Philip Lane said Wednesday.
14 September 2022
Exclusive: ECB Insider: If Price Stability Requires Restrictive Policy, Then We Must Become Restrictive
- ECB insider: ‘Wrong’ to think we would only enter restrictive territory reluctantly
- ECB insider: Must contain mid-term inflation at 2%, that is ‘the main thing’
Exclusive: ECB Insider: QT is ‘Just the Next Step’; Need to Discuss it and ‘Better Sooner than Later’
- ECB insider: I want to discuss QT as soon as possible
- ECB insider: Discussion of QT within Governing Council ‘could be’ in October
Exclusive: ECB Insider: Lagarde Did Not Push for 50bp
9 September 2022
Exclusive: ECB Insider: 50bp Rate Hike Likelier in October than Another 75bp
- ECB insider: Would need very strong case to justify another 75bp
- ECB insider: 75bp not the new benchmark rate hike size
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Friday said that the size of future ECB rate hikes would depend on medium-term inflation prospects.
9 September 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Friday said that Thursday’s 75bp rate hike should not be interpreted as the new standard for ECB moves.
9 September 2022
By David Barwick – FRANKFURT (Econostream) – Thursday's 75bp hike by the European Central Bank could entail sacrifices in terms of economic growth and employment, ECB Governing Council member Yannis Stournaras warned on Friday.
9 September 2022
By David Barwick – FRANKFURT (Econostream) – Along with financial markets and most analysts, Econostream considers the somewhat likelier outcome of this week’s European Central Bank monetary policy meeting to be a hike of 75bp.
6 September 2022
By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members very directly related to monetary policy’s next steps. We only include forward-looking comments made recently enough to be current. Updates are made on a periodic basis.
6 September 2022
By David Barwick – FRANKFURT (Econostream) – Much like we did six weeks ago in the context of a potential 50-basis-point rate hike, we again consider the European Central Bank Governing Council member by member, this time with respect to the feasibility of a 75-basis-point hike at Thursday’s meeting.
5 September 2022
By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members very directly related to monetary policy’s next steps. We only include forward-looking comments made recently enough to be current. Updates are made on a periodic basis.
5 September 2022
By David Barwick – FRANKFURT (Econostream) – The next set of European Central Bank staff macroeconomic projections for the euro area, due to be unveiled on Thursday, will see medium-term inflation little changed, while forecasts for 2023 will include substantial revisions to both inflation (upwards) and growth (downwards), an ECB insider told Econostream.
1 September 2022
Exclusive: ECB’s Stournaras: Misguided to Hike Rapidly at the Risk of Needing to Backtrack Soon
- Stournaras: ‘Should err on the side of caution rather than on the side of speed’
- Stournaras: Unwarranted wage growth would justify aggressive hiking, but wage growth ‘okay’
- Stournaras: Would like monetary policy to normalise without destabilising output
- Stournaras: ‘Don’t think we’re anywhere close to actual action’ with respect to QT
- Stournaras: QT now ‘could make the situation much more difficult for the real economy’
- Stournaras: TLTRO redemptions to bring ‘a lot of shrinking’ to ECB balance sheet