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
By David Barwick – ALPBACH, Austria (Econostream) – Various members of the European Central Bank Governing Council on Tuesday split along well-established hawk-dove lines with regard to their respective views of the appropriateness of aggressive monetary policy action in the face of gathering economic clouds.
30 August 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.
26 August 2022
By David Barwick – FRANKFURT (Econostream) – The account of the European Central Bank’s policy meeting of 20-21 July, released by the ECB on Thursday, confirmed the substantial support of the Governing Council for a rate hike of 50 basis points as a signal of ability to respond to altered circumstances.
25 August 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday said that inflation would return to 2% but that it was uncertain when and that staff macroeconomic projections by themselves could not be relied on.
25 August 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 August 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank must and will hike interest rates further to keep elevated inflation from becoming entrenched, according to ECB Governing Council member Mārtiņš Kazāks late Wednesday.
4 August 2022