- Insider: ‘We are not going to allow inflation in Europe to move beyond our objective, full stop’
- Insider: ‘Considerations about fiscal conditions should play no role at all’
By David Barwick – FRANKFURT (Econostream) – Seven weeks ago, we noted in this space that the Governing Council meeting of the European Central Bank that was then two days off had been preceded by an unusually thin trickle of communication, at least from the Executive Board. Now, the opposite is more the case, with seemingly every member of the Council having weighed in, in many cases more than once, about coming decisions or the possibility of deferring these.
14 December 2021
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. The frequency of updates will correspond approximately to the frequency with which relevant comments are made.
13 December 2021
By David Barwick – FRANKFURT (Econostream) – The European Central Bank on Sunday said that Vice President Luis de Guindos had tested positive for Covid 19.
12 December 2021
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:
10 December 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Friday highlighted the ongoing potential of the pandemic to cause economic damage, and urged avoiding complacency.
10 December 2021
By David Barwick – FRANKFURT (Econostream) – The European Central Bank’s monetary policy must take into account increasing risks to financial stability, Executive Board member Isabel Schnabel said Wednesday.
8 December 2021
By David Barwick – FRANKFURT (Econostream) – The French economy will register growth of 6.7% for the full year 2021, European Central Bank Governing Council member François Villeroy de Galhau said Wednesday.
8 December 2021
By David Barwick – FRANKFURT (Econostream) – The emergence of the Omicron variant of the coronavirus is not yet a reason to defer beyond next March the end of the European Central Bank’s pandemic emergency purchase programme (PEPP), according to ECB Governing Council member Mārtiņš Kazāks on Wednesday.
8 December 2021
By David Barwick – FRANKFURT (Econostream) – Tuesday’s Financial Times story suggesting a growing concern among European Central Bank policymakers about being too hasty to extend accommodation is less revelation than reminder.
7 December 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank policymakers are less sure than ever about the speed with which inflation will recede and are thus reconsidering their willingness to continue providing monetary accommodation, the Financial Times reported on Tuesday.
7 December 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Robert Holzmann on Tuesday said the growth outlook was largely intact, but he warned anew of inflation and suggested that he would support inverting the standard sequence of policy withdrawal.
7 December 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Tuesday said that euro area inflation risks were on the upside and that under current uncertainty monetary authorities should not make commitments that go too far.
7 December 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Tuesday indicated that the Omicron variant of the coronavirus constituted a risk but suggested that it was manageable.
7 December 2021
By David Barwick – FRANKFURT (Econostream) – A European Central Bank working paper published Monday said that simultaneously applying expansive monetary and fiscal policies could substantially improve growth and boost inflation without necessarily leading to unsustainable debt.
6 December 2021
By David Barwick – FRANKFURT (Econostream) – The imminent departure of European Central Bank Governing Council member and arch-hawk Jens Weidmann represents a loss in terms of the quality of Council discussions, some ECB insiders fear, but does not imply a change in outcomes.
6 December 2021
By David Barwick – FRANKFURT (Econostream) – The European Central Bank remains undecided as to whether currently high inflation is indeed temporary, ECB Governing Council member Edward Scicluna said Friday.
6 December 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday indicated that the Governing Council could play it safe at its upcoming policy meeting by avoiding unnecessarily bold decisions, while pressing it to avoid playing it too safe.
3 December 2021
By David Barwick – FRANKFURT (Econostream) – The German government has decided on its preferred candidate to replace outgoing Bundesbank President and European Central Bank Governing Council member Jens Weidmann, according to the Financial Times on Thursday.
3 December 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday confirmed that net assets under the ECB’s pandemic emergency purchase programme (PEPP) would probably end in March, but suggested that the upcoming Governing Council meeting would provide clarity without making long-term commitments, given high uncertainty.
3 December 2021