Central Bank

ECB Insight: Governing Council Likely to Want to Avoid Perception of Policy Inflection Point

By David Barwick – FRANKFURT (Econostream) – In contrast to the high expectations for June prevailing in the aftermath of March’s anti-climactic Governing Council meeting, this week’s gathering of the European Central Bank is likely to be less of an inflection point following recent comments by ECB officials that seem to preordain the policy outcome and foreshadow the tone at the subsequent press conference.

8 June 2021

ECB Hawk-Dove Ranking: Governing Council Less Dovish Than Its Decisions

Latest Update of the Econostream Media ECB Hawk-Dove Ranking.

4 June 2021

ECB’s Šimkus: Inflation Unlikely to Rise to Worrisome Levels; Sustained Surge Unlikely

By David Barwick – FRANKFURT (Econostream) – A prolonged increase of inflation is am improbable scenario and policymakers need to avoid reacting to developments hastily and potentially threatening the recovery, European Central Bank Governing Council member Gediminas Šimkus said Friday.

4 June 2021

TRANSCRIPT: Interview with Portuguese Treasury and Debt Management Agency’s Cristina Casalinho on 28 May 2021

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on May 28 with Cristina Casalinho, head of the Portuguese Treasury and Debt Management Agency:

3 June 2021

EXCLUSIVE: Portugal Debt Issuance Head: ‘Negative Interest Rates Should Not Become the Standard’

By David Barwick – Frankfurt (Econostream) – Negative interest rates should not become the norm and a return to positive rates can be seen as a good thing, according to Cristina Casalinho, head of the Portuguese Treasury and Debt Management Agency.

3 June 2021

EXCLUSIVE: Portugal Debt Issuance Head: No Question We’ll Do Green Issuance, Just Question of When

- ‘We Need to Be Careful About Bringing Long-Dated Bonds to the Market’
- Portugal Has a ‘Good Set of Arguments on Which Rating Agencies Can Base Their Decisions’
- ‘We Don’t Expect Major Negative Surprises’ in H2 Concerning Funding Needs

3 June 2021

ECB’s Lagarde: Committed to Favourable Financing Conditions Well Into the Recovery

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Wednesday reiterated the ECB’s determination to ensure that euro area financing conditions remain favourable well into the economic recovery process.

2 June 2021

ECB’s Weidmann: Will Have to Tighten Policy When Needed to Maintain Price Stability

By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to eventually withdraw monetary accommodation when warranted by the inflation outlook, ECB Governing Council member and German Bundesbank President Jens Weidmann said Wednesday.

2 June 2021

ECB Lagarde: Bigger Global Role for Euro May Take Policy Measures, Reform Efforts

By David Barwick – FRANKFURT (Econostream) – The fact that the euro’s international importance, though not high, emerged unscathed from the turbulence of 2020 may indicate that a larger global role for the common currency could only be the result of additional policies and reforms, according to European Central Bank President Christine Lagarde on Wednesday.

2 June 2021

German Unemployment Declines in May

By David Barwick – FRANKFURT (Econostream) – German unemployment last month registered a clear decline, according to seasonally adjusted data released on Tuesday by the German Federal Employment Agency.

1 June 2021

ECB’s Visco: Large and Persistent Increases in Interest Rates Must Be Countered

By David Barwick – FRANKFURT (Econostream) – Sustained and significant rises in yields are not warranted by economic prospects and will have to be countered, European Central Bank Governing Council member Ignazio Visco said Monday.

31 May 2021

German Inflation Picks up More Steam, Hitting 2.5% Y/Y in May

By David Barwick – FRANKFURT (Econostream) – Consumer prices in Germany accelerated for the fifth month in a row in May, growing at an annualized 2.5%, according to the flash estimate of the German Federal Statistical Office on Monday.

31 May 2021

ECB Working Paper: Targeting Inflation Range Not Less Effective Than a Point Target

By David Barwick – FRANKFURT (Econostream) – Central banks that target an inflation range are not necessarily likelier to find it harder to anchor expectations than their peers whose inflation targeting relies on another formulation of the inflation objective, according to a European Central Bank working paper published Monday.

31 May 2021

ECB’s Schnabel: Still in Middle of Pandemic, Economy Still in State of Emergency

By David Barwick – FRANKFURT (Econostream) – The euro area remains mired in crisis, European Central Bank Executive Board member Isabel Schnabel said on Friday.

28 May 2021

ECB Brief: Schnabel Adjusts the Goal Posts; Crisis Phase Defined by Inflation

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Friday effectively adjusted the goal posts defining the limits in time of the ECB’s extraordinary measures.

28 May 2021

TRANSCRIPT: Interview with Finland State Treasury’s Teppo Koivisto on 25 May 2021

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on May 25 with Teppo Koivisto, director of the Financing Division of Finland’s State Treasury and thus responsible for Finnish public debt management.:

28 May 2021

EXCLUSIVE: Finland Debt Issuance Head: 3rd Syndicated Benchmark Most Likely 5-Year Benchmark in Q3

- ‘We Were Right That We Decided to Revise the Guidance’ on Last Week’s 10-Year RFGB

28 May 2021

ECB’s Weidmann: Must Be Clear That Monetary Policy Not at the Service of Fiscal Policy

By David Barwick – FRANKFURT (Econostream) – It needs to be evident to everyone that the European Central Bank is not subordinating monetary policy to fiscal policy, ECB Governing Council member and German Bundesbank President Jens Weidmann said Thursday.

27 May 2021

TRANSCRIPT: Interview with Italian Treasury’s Davide Iacovoni on 19 May 2021

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on May 19 with Davide Iacovoni, director general of the directorate of the Italian Treasury that is responsible for Italy’s public debt management:

27 May 2021

EXCLUSIVE: Italian Debt Issuance Head: If Growth Returns, ECB Support Withdrawal Not a Problem

By David Barwick – Frankfurt (Econostream) – A withdrawal of the European Central Bank’s monetary policy support would not be a problem for Italy’s sovereign borrowing once economic growth returns and potential growth is boosted, according to Davide Iacovoni, director general of the directorate of the Italian Treasury responsible for public debt.

27 May 2021