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ECB Hawk-Dove Ranking: At Long Last, Governing Council as a Whole Enters Hawkish Territory

They Said it - Recent Monetary Policy Comments Made by ECB Governing Council Members

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. Updates are made on a periodic basis.

ECB Insight: de Guindos Makes July Lift-Off Sound No Less Likely Than It Was, Perhaps Even More

By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Sunday reinforced the notion that the ECB could hike rates as soon as July, all while somewhat perfunctorily assuring that the precise date was no foregone conclusion.

ECB Brief: Holzmann Says July Governing Council Meeting Will Be ‘Most Interesting and Difficult’

- Holzmann: One purchase programme still there, scheduled to end in July

ECB Insight: With Policy Tightening Looming Ever Larger, Super-Dove Visco Mounts a Last Stand

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Ignazio Visco on Thursday appeared torn between alternately conceding the inevitability of tighter monetary policy and staving it off.

Exclusive: More Pronounced Euro Weakness a Headache for ECB, Econostream Understands

- ECB insider: Higher depreciation of euro can affect HICP projection at end of horizon

ECB: Price Rises More Widespread, Upside Inflation Risks Have Intensified

By David Barwick – FRANKFURT (Econostream) – Price pressures have broadened and it is unclear how long underlying inflation will persist at levels above 2%, the European Central Bank said on Thursday.

ECB Insight: Kazāks Gets Behind a July Lift-Off as a ‘Better Option’ than September

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Mārtiņš Kazāks on Tuesday positioned himself in favour of a July rate hike rather than for the next-best option of a September lift-off.

ECB Insight: ECB Ready to Handle Potentially Large TLTRO Repayment End-June

By David Barwick – FRANKFURT (Econostream) – The European Central Bank is ready to deal with the possibility of an outsized repayment two months from now of funding provided banks under the ECB’s targeted longer-term refinancing operations (TLTROs), Econostream understands.

They Said it - Recent Monetary Policy Comments Made by ECB Governing Council Members

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. Updates are made on a periodic basis.

ECB’s Lagarde: Must Act in a Gradual Way So That We Don’t Induce Recession

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Sunday indicated that once the ECB’s net asset purchases were over, the ECB would decide on the details of interest rate increases, acting gradually so as to preserve economic growth.

Exclusive: 50-bp Rate Hike Not ECB Baseline for Now, But Council Will Have to Discuss

By David Barwick – FRANKFURT (Econostream) – As the debate about rates lift-off by the European Central Bank enters a phase of greater urgency, the date of a first hike is not the only issue about which ECB Governing Council members will have to come to consensus.

ECB Survey of Professional Forecasters Shows Near-Term Inflation Higher, but Medium Term Stable

By David Barwick – FRANKFURT (Econostream) – Professional forecasters now expect inflation this year and next to be higher than they anticipated three months ago, but are sticking to their previous prediction regarding medium-term HICP, the European Central Bank said on Friday.

ECB Insight: Lagarde Treads Carefully, But Renews Stress on Continued Normalisation

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday took care not to show much bias in any direction, but as in March, the message came though nonetheless that Russia’s campaign of aggression against Ukraine was not standing in the way of the ECB's monetary policy normalisation.

ECB Insight: An End to Russia’s War on Ukraine Might Make Little Difference for Monetary Policy

By David Barwick – FRANKFURT (Econostream) – If Russia’s unjustified war of aggression against Ukraine were to come to an end soon, Europe would breathe a collective sigh of relief at the halting of bloodshed, but European central bankers would not necessarily see a major impact on monetary policy, Econostream understands.

Exclusive: ECB Anti-Spreads Programme to Face Bumpy Path, Econostream Understands

By David Barwick – FRANKFURT (Econostream) – Although European Central Bank President Christine Lagarde is likely to be reticent on Thursday about the programme the Eurotower is working on to keep sovereign spreads in check, the facility may face a rocky road when it comes to internal approval, Econostream understands.

ECB Has Much to Debate, But Lagarde May Have Much Less to Communicate

By David Barwick – FRANKFURT (Econostream) – The April monetary policy meeting of the European Central Bank’s Governing Council is set to be the scene of particularly interesting deliberations to which the subsequent communication by ECB President Christine Lagarde may not live up, given the likely absence of any major decisions and a clear preference for leaving options open.

They Said it - Recent Monetary Policy Comments Made by ECB Governing Council Members

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. Updates are made on a periodic basis.

ECB Insight: Amid the Clamour of ECB Hawks, a Dovish Trio Exploits the Quiet Period to Be Heard

By David Barwick – FRANKFURT (Econostream) – As if to counter the growing perception that tighter European Central Bank monetary policy has become a juggernaut, three Governing Council members on Friday bent the rules of the ECB’s so-called quiet period somewhat in a demonstration of unified reluctance to endorse the dominant trend.

ECB’s Herodotou: Just Because Inflation Tops 2%, That’s No Reason to Hike Rates

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Constantinos Herodotou on Friday said that inflation in excess of 2% was not per se grounds to hike official borrowing costs.