By David Barwick and Marta Vilar – FRANKFURT (Econostream) – In the following we share views gleaned from numerous recent exchanges with European Central Bank Governing Council members regarding the current monetary policy outlook. We depart from our usual format and make key points in list form for the sake of conciseness:
14 November 2024 Central Bank News
By Marta Vilar – MADRID (Econostream) - European Central Bank Governing Council member François Villeroy de Galhau said on Wednesday that US President-elect Donald Trump’s economic programme could bring inflation back to the US.
13 November 2024 Central Bank News
By David Barwick and Marta Vilar – FRANKFURT (Econostream) – The European Central Bank should not deliberately set out to undershoot or overshoot its 2% inflation target, according to ECB Governing Council member Mārtiņš Kazāks.
13 November 2024 Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Wednesday that the German economy could take a hit of 1% in 2025 if US President-elect Donald Trump were to implement his tariff plans.
13 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) - European Central Bank President Christine Lagarde on Tuesday urged against the backdrop of the latest United Nations Climate Change Conference (COP) that the global climate finance gap be closed.
12 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Monday suggested that euro area interest rates could be lowered to about 2% by the end of the third quarter of 2025.
11 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The Bank for International Settlements (BIS) on Monday announced the appointment of former European Central Bank Governing Council member Pablo Hernández de Cos to the position of General Manager of the BIS.
11 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank is unlikely to cut interest rates by 50bp in December, according to Governing Council member Pierre Wunsch.
11 November 2024 Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council Robert Holzmann said on Monday that a cut in December was possible but not inevitable.
11 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) – It will probably be announced today that former European Central Bank Governing Council member Pablo Hernández de Cos is to take over the helm of the Bank for International Settlements (BIS) when current BIS General Manager Agustín Carstens steps down.
11 November 2024 Central Bank News
By Marta Vilar – ATHENS (Econostream) – European Central Bank Chief Economist Philip Lane said on Thursday that the potential influence of the Federal Reserve’s decisions on the ECB after Donald Trump’s victory in the US presidential election should not be overestimated.
7 November 2024 Central Bank News
By Marta Vilar – ATHENS (Econostream) – European Central Bank Governing Council member Yannis Stournaras said on Thursday that the Transmission Protection Instrument ‘cannot be used in all cases’ and, in fact, might never be used.
7 November 2024 Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank Executive Board member Isabel Schnabel said on Thursday that the ECB’s balance sheet was shrinking smoothly and that the process had had a positive impact on market functioning.
7 November 2024 Central Bank News
By David Barwick – ATHENS (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Thursday urged that Europe address the problem of high debt.
7 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Wednesday said that euro area disinflation was proceeding well and that fine-tuning monetary policy was difficult.
6 November 2024 Central Bank News
By Marta Vilar – MADRID (Econostream) – Following is the full transcript of the interview conducted by Econostream on 1 November 2024 with Anu Sammallahti, director of finance and acting Head of Division at Finland’s State Treasury:
5 November 2024 Central Bank News
By Marta Vilar – MADRID (Econostream) – Finland expects its debt issuance programme to amount to ‘around €43 billion’ in 2025, according to Anu Sammallahti, director of finance and acting Head of Division at Finland’s State Treasury.
5 November 2024 Central Bank News
By Marta Vilar – MADRID (Econostream) – European Central Bank policymakers are nothing if not apprehensive about the US elections to take place tomorrow, given the potential implications of another Donald Trump presidency.
4 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) – With 26 members, the European Central Bank’s Governing Council is inevitably subject to a fair degree of turnover. This year, three new faces appeared on the Council, as governors of the Bank of Spain, the Central Bank of Cyprus and the Central Bank of Malta were all replaced (the latter - for now – officially on a temporary basis).
1 November 2024 Central Bank News
By David Barwick – FRANKFURT (Econostream) – First and foremost, we still stand by the article published here on 18 October, the main point of which was to argue that markets were ‘seeing the European Central Bank Governing Council’s decision on Thursday a tad too strongly through the prism of wishful thinking.’
31 October 2024 Central Bank News