News

ECB Insight: Duration Moves Front and Centre, Even as Lagarde Declines to Confirm Peak Reached

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday had it both ways, suggesting by any reasonable interpretation that today’s dovish hike decided by the Governing Council could be the end of the tightening cycle, but at the same time stubbornly beating back the idea that the peak of euro area interest rates had definitively been reached.

14 September 2023

Extraordinary Tax on Credit Institutions in Italy Could Endanger Monetary Policy Transmission, Warns ECB

By Mariana Somensi – NICOSIA (Econostream) - The European Central Bank on Wednesday said that Italy's plans to impose an extraordinary tax on credit institutions could threaten the transmission of monetary policy.

13 September 2023

ECB Insight: A Pause May Make More Sense, But Updated Forecasts Could Interfere

By David Barwick – FRANKFURT (Econostream) – In the run-up to the September 2022 monetary policy meeting of the European Central Bank’s Governing Council, we surmised with respect to the outcome that available evidence pointed to a 75bp hike ‘as a bit more probable on the basis of the number of supporters and the feebleness of the pushback.’

13 September 2023

ECB Nominates Deutsche Bundesbank's Claudia Buch for Supervisory Board Chair

By Mariana Somensi – NICOSIA (Econostream) - The European Central Bank announced on Wednesday the nomination of Deutsche Bundesbank Vice President Claudia Buch to be chair of the Supervisory Board charged with overseeing the area's private financial institutions.

13 September 2023

ECB's Villeroy: France Past Overall Inflation Peak; to Be Back at Around 2% Inflation by 2025

By Mariana Somensi – NICOSIA (Econostream) - European Central Bank Governing Council member François Villeroy de Galhau on Tuesday said that overall inflation had passed its peak in France, confirming the effectiveness of the ECB’s monetary policy.

12 September 2023

They Said It - Recent Comments of ECB Governing Council Members

By David Barwick – FRANKFURT (Econostream) – The following is an overview of recent comments made by European Central Bank Governing Council members. We include only comments made since the Governing Council meeting of 27 July, but earlier comments can still be seen in versions up to that of 24 July .

11 September 2023

ECB's Villeroy: Foundation Laid for Central Banks to Consider Nature Degradation in our Mandate

By Mariana Somensi – NICOSIA (Econostream) - European Central Bank Governing Council member François Villeroy de Galhau on Thursday said that a new framework to guide central banks and regulators on nature risk would let monetary authorities and supervisors take into account the degradation of nature in their mandate.

7 September 2023

ECB's Knot: Nature-Related Financial Risks Real and Urgent

By Mariana Somensi – NICOSIA (Econostream) - European Central Bank Governing Council member Klaas Knot on Thursday warned central banks and supervisors that nature-related financial risks are real and require urgent action.

7 September 2023

ECB’s Kažimír: One More Step Needed, Taking It Next Week the ‘Preferable, Reasonable’ Option

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Peter Kažimír on Wednesday said that the ECB was not done after yesterday’s 25bp hike and that it should continue with a ‘firm step’ towards price stability.

6 September 2023

They Said It - Recent Comments of ECB Governing Council Members

6 September 2023

ECB’s Knot: Next Week’s Decision up in the Air; Some Good Signs on Inflation Front

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Klaas Knot on Wednesday said that a September interest rate hike was possible but not certain, and that there were some positive signs with respect to inflation.

6 September 2023

ECB’s Villeroy: Policy Options Are Open, but Keeping Rates High Matters More Than Hiking Further

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Wednesday said that the Council’s options were open at its meeting next week, but that with the peak of both core and overall inflation past, keeping interest rates high was more important than raising them further.

6 September 2023

ECB’s Nagel: ‘We Are Still Far From Meeting Our Inflation Target’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel late Tuesday said that the ECB was still far from having fulfilled its mandate and warned against assumptions that rate cuts would follow soon after the peak of the current tightening cycle had been reached.

6 September 2023

ECB's de Guindos: Action on CBDCs Necessary to Protect the Euro

By Mariana Somensi – NICOSIA (Econostream) - Europe cannot afford to remain passive while other jurisdictions move ahead in terms of central bank digital currencies (CBDCs), European Central Bank Vice President Luis de Guindos said on...

5 September 2023

ECB’s Schnabel: Prudential Supervision Must Take Into Account Climate Risks

By Mariana Somensi – NICOSIA (Econostream) - Climate-related and environmental risks (C&E risks) significantly increase financial risks and therefore warrant being taken into account by prudential supervision, ECB Executive Board member Isabel Schnabel said on Tuesday.

5 September 2023

ECB’s Knot for FSB: ‘Further Strains in Financial Markets Cannot Be Ruled Out in the Months Ahead’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Klaas Knot on Tuesday said that financial markets could experience additional stress in the coming months due to higher interest rates.

5 September 2023

ECB: Consumer Inflation Expectations Stable for Next 12 Months, Slightly Higher for Next Three Years

By Mariana Somensi – NICOSIA (Econostream) - The European Central Bank’s consumer expectation survey, released on Tuesday, showed median consumer inflation expectations for the next 12 months unchanged in July, while those for the next three years increased slightly.

5 September 2023

ECB’s Lane: Lower Goods and Services Inflation a ‘Welcome Development’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Philip Lane on Tuesday struck a generally positive tone on the latest euro area inflation developments, predicting continued easing of core readings and highlighting the reduced price pressures from goods and services.

5 September 2023

ECB Insight: If Not Quite Relaxed, Lane Sounds at Least Guardedly Optimistic About Inflation

By David Barwick – FRANKFURT (Econostream) – We suspect that Irish online news outlet The Currency tried to draw European Central Bank Executive Board member Philip Lane out more explicitly on the matter of what the ECB Governing Council might decide at its monetary policy meeting next week.

5 September 2023

ECB’s Panetta: To Report on Digital Euro Investigation Phase in October

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Fabio Panetta on Monday said that the ECB’s work on a digital euro had progressed to the point at which the Governing Council would soon be faced with the decision to continue pursuing the project or not.

4 September 2023