By David Barwick – FRANKFURT (Econostream) – The October monetary policy meeting of the European Central Bank’s Governing Council would be a sensible occasion for authorities to start discussing seriously the further reduction of the ECB’s balance sheet, in the view of a Eurosystem insider who spoke to Econostream recently.
26 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Monday said that inflation was expected to remain too high for too long, but that key interest rates were now at levels that, if kept there long enough, would help restore price stability.
25 September 2023
By David Barwick – Frankfurt (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Monday suggested that concerns of monetary policy overtightening based on the marked deceleration of money growth were misplaced.
25 September 2023
By David Barwick – FRANKFURT (Econostream) – The likelihood that the European Central Bank will or won’t need to hike again is probably closer to being balanced than markets realise, in the view of a Eurosystem insider who spoke to Econostream recently.
25 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pablo Hernández de Cos on Monday reiterated that setting monetary policy in a very data-dependent way allowed policymakers to skirt the dangers of going too far and not going far enough with policy.
25 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Monday said that the risks of monetary policy tightening going too far had reached the point of symmetry versus the risks of not going far enough.
25 September 2023
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 14 September, but earlier comments can still be seen in versions up to that of 11 September .
22 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Philip Lane on Friday said that the ECB was completely willing to modify its monetary policy stance in line with new information.
22 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Philip Lane on Friday said that various factors would make the ECB’s assessment of inflation in the near term especially difficult and that wage trends in particular would resist analysis for many months.
22 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pablo Hernández de Cos on Friday said that it was too soon for discussion of a loosening of ECB monetary policy, but that loosening couldn’t be excluded.
22 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Thursday said that it should not be taken for granted that the current level of interest rates would turn out to be high enough for the ECB’s purposes.
21 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Thursday said that still-high inflation meant that it could not be said for sure whether ECB interest rates had peaked.
21 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Thursday said that interest rates had probably peaked with the 25bp hike decided last week by the ECB.
21 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Wednesday said that the lagged impact of ECB rate hikes and the removal of fiscal stimulus would result in only modest euro area economic growth this year and in 2024.
20 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pierre Wunsch has said that high uncertainty made it very unclear whether the ECB’s rate hike last week would be the final one in the current tightening cycle.
20 September 2023
By David Barwick – FRANKFURT (Econostream) – Euro area inflation risks are balanced, one of multiple reasons to think the European Central Bank’s projection of 2.1% inflation in 2025 is achievable, ECB Governing Council member Pablo Hernández de Cos said Wednesday.
20 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Fabio Panetta on Wednesday warned that inappropriate fiscal policies had the potential to support demand so much that monetary policy might need to react.
20 September 2023
By Mariana Somensi – NICOSIA (Econostream) - European Central Bank Executive Board member Frank Elderson on Wednesday said that banks that failed to manage their climate and environmental risks could be subject to penalties.
20 September 2023
By Mariana Somensi – NICOSIA (Econostream) - European Central Bank Executive Board member Frank Elderson on Tuesday urged banking supervisors to pay heed to the culture in their organisations as an important factor for bank risk.
19 September 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday said that inflation would have to retreat to around 2% in order for interest rates to be able to fall again.
19 September 2023