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ECB’s Weidmann: Upside Inflation Risks Now Outweigh Downside Risks

By David Barwick – FRANKFURT (Econostream) – Risks to inflation are tilted to the upside, European Central Bank Governing Council member Jens Weidmann said Wednesday.

ECB Insight: VP de Guindos Echoes Others Already Calling for Less ECB Support

By David Barwick – FRANKFURT (Econostream) – Taking into account that the number two at the European Central Bank is never likely to express himself in a way that pre-commits his institution too clearly, Vice President Luis de Guindos’ remarks on Wednesday were a strong indication that the ECB would reduce support at next week’s meeting.

ECB’s Stournaras: High Inflation Temporary; Must Assess With Caution

By David Barwick – FRANKFURT (Econostream) – Currently high euro area inflation is a temporary phenomenon and the European Central Bank should thus exercise caution, ECB Governing Council member Yannis Stournaras said Wednesday.

ECB’s Knot: Will Take Decades in Some Countries to Reduce Debt

By David Barwick – FRANKFURT (Econostream) – The high debt of some countries will require the effort of decades to be reduced, European Central Bank Governing Council member Klaas Knot said Tuesday.

ECB Insight: Villeroy Leaves Little Doubt That Major Decisions to Need More Time

By David Barwick – FRANKFURT (Econostream) – With just days to go until the members of the European Central Bank’s Governing Council will presumably start observing the quiet period ahead of monetary policy meetings, Council member François Villeroy de Galhau has apparently confirmed that observers should not expect much from the September 9 gathering except, as he strongly hinted, a slowdown in the monthly asset purchase pace.

ECB’s Rehn: Reduction of Monetary Support Needs to Avoid Missteps of the Past

By David Barwick – FRANKFURT (Econostream) – The weak inflation outlook justifies ongoing accommodative monetary policy, and any reduction of accommodation needs to avoid a repetition of past missteps, European Central Bank Governing Council member Olli Rehn said on Monday.

ECB’s Villeroy Sees Progress Towards Inflation Target; Expectations in 5 Years ‘Pretty Close’

By David Barwick – FRANKFURT (Econostream) – Inflation expectations five years from now are ‘pretty close’ to the European Central Bank’s price stability objective, ECB Governing Council member François Villeroy de Galhau said Monday.

ECB Insight: Villeroy Offers Latest Confirmation That Delta Variant Not the Biggest Deal

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau’s comment Thursday downplaying the economic impact of the Delta variant offers the latest confirmation that the variant shouldn't be a major factor at the next monetary policy meeting of the Council.

Exclusive: Econostream Understands Even October Could Still Be Seen as Premature at ECB

By David Barwick – FRANKFURT (Econostream) – As Econostream continues to speak to people close to European Central Bank monetary policymaking, the expectation expressed here 10 days ago of a relatively uneventful September 9 Governing Council meeting has only been reinforced, with even the October 28 meeting seen as potentially too soon for big decisions.

ECB’s Villeroy: Delta Will Only Have ‘Indirect’ Impact on French Growth

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said Thursday that the Delta variant of the coronavirus would only have an ‘indirect’ effect on French economic growth.

German Bundesbank: 3Q Activity to Top 2Q, but 2021 Overall May Undershoot June Forecast

By David Barwick – FRANKFURT (Econostream) – The German economy’s third quarter performance should exceed that of the second quarter, but lower-than-expected growth in the first half may lead to an undershooting of the June full-year 2021 forecast, the German Bundesbank said on Monday in its latest monthly report.

ECB’s Schnabel: ‘We Continue to Expect to See a Strong Recovery’

By David Barwick – FRANKFURT (Econostream) – The European Central Bank still sees a strong economic recovery, Executive Board member Isabel Schnabel said Saturday.

ECB Insight: New Forward Guidance Relies on Elusiveness of Underlying Inflation

By David Barwick – FRANKFURT (Econostream) – Although the European Central Bank’s strategy review may have led to an inflation target that is clearer than its predecessor, it appears to be relying on a lack of clarity about another concept, namely underlying inflation.

ECB’s Lane: July’s Revision to Forward Guidance on Rates Was ‘Just The First Step’

By David Barwick – FRANKFURT (Econostream) – Last month’s revision by the European Central Bank of its forward guidance with respect to interest rates was only the opening act in the implementation of the ECB’s new strategy, Chief Economist Philip Lane said on Thursday.

ECB Insight: Opposition to New Forward Guidance Leaves More Questions Than Answers

By David Barwick – FRANKFURT (Econostream) – Almost a month after the European Central Bank revised its forward guidance on interest rates to reflect its new strategy framework, the nature of the opposition of a small minority of monetary policymakers remains somewhat unclear, with the majority clearly united behind the idea that guidance must defer to reality over time.

ECB Hawk-Dove Ranking: Kazāks Ranked a Notch Less Hawkish; Wunsch Unchanged Despite July 22 Opposition

Exclusive: Econostream Understands September ECB Meeting Outcome Could Be More Wait-And-See

- ECB to set Q4 PEPP pace, but major announcements on future of QE less likely

TRANSCRIPT: Interview with UK DMO CEO Sir Robert Stheeman on 27 July 2021

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on July 27 with Sir Robert Stheeman, Chief Executive Officer of the UK Debt Management Office:

EXCLUSIVE: UK DMO’s Stheeman: Prefer a Gradual Approach to Any Curve Extension

By David Barwick – Frankfurt (Econostream) – The UK Debt Management Office prefers a gradual approach to any potential extension of its issuance curve, according to Sir Robert Stheeman, Chief Executive Officer of the DMO.

ECB’s Weidmann: HICP to Accelerate Sustainably Next Few Years; Interest Rates to Rise

By David Barwick – FRANKFURT (Econostream) – Euro area inflation will recover durably in the next few years, leading the European Central Bank to hike interest rates, ECB Governing Council member and German Bundesbank President Jens Weidmann said Sunday.