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ECB Brief: Panetta Says We’re to Blame if Globalisation Leads to Low Inflation

ECB Brief: Panetta Says We’re to Blame if Globalisation Leads to Low Inflation

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Fabio Panetta killed two birds with one stone on Monday, turning a treatise on whether globalisation hinders monetary policy’s domestic objectives – in particular by engendering spillovers that render financing condition favourability an effectively exogenous variable - into another plea for continued policy support.

26 April 2021 | Central Bank News
ECB’s Panetta: Need Very Favourable Financing Conditions Until Pandemic Well Over

ECB’s Panetta: Need Very Favourable Financing Conditions Until Pandemic Well Over

In a speech at a joint BIS, BoE, ECB and IMF conference, a copy of which was made available by the ECB, Panetta said that ‘monetary and fiscal policies should work together to deliver a stronger and more inclusive recovery, reducing the risk of inflation undershooting our aim for a prolonged period’, he said. ‘This is the best way to avoid lasting scars.’

26 April 2021 | Central Bank News
ECB Brief: Governing Council Member Vasle Strikes More Optimistic Tone than Lagarde

ECB Brief: Governing Council Member Vasle Strikes More Optimistic Tone than Lagarde

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council Boštjan Vasle appears to have been the first Council member out of the blocks following ECB President Christine Lagarde's highly dovish press conference a day earlier, with a carefully worded statement on the monetary policy meeting that could be a harbinger of less gentle dissent to come.

23 April 2021 | Central Bank News
ECB Insight: Another Stubbornly Dovish Performance by Lagarde

ECB Insight: Another Stubbornly Dovish Performance by Lagarde

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday was at great pains to sound dovish, so much so that she appeared to suggest rather blithely at one point that the ECB hadn’t really even so much formally accelerated pandemic-related asset purchases as it had simply adjusted the pace to a new normal consistent with the ECB’s policy approach.

22 April 2021 | Central Bank News
ECB’s Šimkus: Pent-Up Demand, Investment to Spur Growth Next Year

ECB’s Šimkus: Pent-Up Demand, Investment to Spur Growth Next Year

In an interview with public broadcaster Lithuanian National Radio and Television, Šimkus, who took over the helm of the Bank of Lithuania earlier this month, declined to address monetary policy questions directly on account of the quiet period ahead of Thursday's Governing Council meeting.

20 April 2021 | Central Bank News
ECB Insight: Time to Make Clearer That Downside Risks Are Not the Only Ones

ECB Insight: Time to Make Clearer That Downside Risks Are Not the Only Ones

By David Barwick – FRANKFURT (Econostream) – In recent weeks one might be excused for thinking that some members of the European Central Bank’s Governing Council live in dread fear of an economic improvement in the Eurozone that could lead to any withdrawal of monetary accommodation. Given that it has become significantly harder to overlook the likelihood of such an improvement, as the need to make important policy decisions approaches inexorably, ECB President Christine Lagarde’s role as mediator could take on new meaning this Thursday.

20 April 2021 | Central Bank News