By Xavier D’Arcy – FRANKFURT (Econostream) – Wage growth in the euro area has picked up in recent months, with the assumptions underlying the European Central Bank’s December projections being confirmed by the latest developments in the labour market, the ECB said on Thursday.
16 February 2023 Central Bank News
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Fabio Panetta said on Thursday that policymakers should be aware of the risk of overreacting and that smaller, non-mechanical rate hikes would allow monetary policy to avoid costly mistakes.
16 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Thursday said that the next set of ECB staff macroeconomic forecasts would determine the further course of monetary policy, and that there were indications of an improved outlook on the inflation front.
16 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pablo Hernández de Cos’ latest remarks are a reminder that the ECB is not going to hike by 50bp forever and that March, whilst probably not the time to decelerate, could be the right moment for authorities to start giving more consideration to the increasing risks of doing too much too fast.
15 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will be better able to decide how monetary policy should evolve with the benefit of updated inflation forecasts available in March, Governing Council member Pablo Hernández de Cos said Wednesday.
15 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Wednesday reiterated word for word the key messages of her post-Council meeting statement earlier this month.
15 February 2023 Central Bank News
- Centeno: When we stop hiking, we’ll be confident we’ve done enough for price stability
- Centeno: Don’t see upside risks to inflation, given December forecast revisions
- Centeno: ‘Inflation is going down faster than what we expected in December’
- Centeno: Somewhat uneasy about how fast ECB policy tightening has occurred
- Centeno: Observed euro area average wage increase can’t be considered 2d-round effect
By Xavier D’Arcy – BERLIN (Germany) – European Central Bank Governing Council member Gabriel Makhlouf said on Tuesday that he expected rate hikes to continue beyond the March meeting and that he was in favour of taking forceful action against inflation.
14 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the appropriate pace of upcoming ECB monetary policy tightening. We include only comments made since the December 15 Council meeting.
13 February 2023 Central Bank News
FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the monetary policy relevance of core inflation. We include comments made since the December 15 Council meeting.
13 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Government fiscal measures to offset the blow from high inflation should be targeted, temporary and not distort market signals, lest monetary policy need additional tightening, the European Central Bank said on Monday.
13 February 2023 Central Bank News
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Mário Centeno said on Monday that the ECB’s terminal rate should become a lot clearer at its upcoming monetary policy meeting in March.
13 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank must continue tightening monetary policy, but should proceed slowly and cautiously, without taking unduly large steps and guided by incoming information, ECB Governing Council member Ignazio Visco said on Saturday.
11 February 2023 Central Bank News
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Isabel Schnabel said on Friday that the ECB would carry on with rate hikes and keep rates high until it saw clear signs of easing core inflation.
10 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – If government spending to mitigate the impact of high energy prices does not give way to more fiscal restraint as energy cheapens, this could ultimately require greater monetary tightening, European Central Bank Governing Council member Pablo Hernández de Cos said Friday.
10 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank is likely to continue hiking interest rates after increasing them in March, Governing Council member Boris Vujčić said Friday.
10 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The globalisation of the last decades as had a disinflationary impact on the euro area and, to a small extent, limited regional inflation’s sensitivity to domestic influences, European Central Bank Governing Council member Pablo Hernández de Cos said Thursday.
9 February 2023 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Thursday suggested that monetary policy remained far from relaxing.
9 February 2023 Central Bank News
- Kazāks: ‘Getting to 3% in March is a good choice that … will take us into restrictive territory’
- Kazāks: ‘Rates will need to go up at further meetings’ even after March; 'we are on a solid path of rate increases'
- Kazāks: ‘At some point we’ll reduce our speed’, but ‘by no means’ in March
- Kazāks: Hiking more than 50bp in March ‘would be reckless’, not needed in view of previous steps
- Kazāks: Too early to say how big May rate hike should be
- Kazāks: ‘Quite likely that there’s not going to be a recession at all’
- Kazāks: Once at terminal, expect to ‘stay there for an extended period’; rate cut in 2023 would be 'way too premature'
- Kazāks: ‘Terminal rate is by no means 3%, that has to be clear’, but ‘I also don’t think we will go as high as the US’
- Kazāks: Baseline would be ‘more benign inflation projections in March, but there are risks on both sides’
By David Barwick – FRANKFURT (Econostream) – The European Central Bank may continue raising official borrowing costs beyond a very probable 50bp hike next month, ECB Vice President Luis de Guindos said Wednesday.
8 February 2023 Central Bank News