By David Barwick – FRANKFURT (Econostream) – Net asset purchases by the European Central Bank should end in June and be followed by a first rate hike in July, ECB Governing Council member Joachim Nagel said Tuesday.
10 May 2022
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.
9 May 2022
By David Barwick – FRANKFURT (Econostream) – We wrote yesterday that we consider a June end to the European Central Bank’s net asset purchases probable, without ruling out the beginning of July. In the interim, we have grown more confident that these are in fact the choices, and prefer the former.
9 May 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Saturday steered clear of offering financial markets much new in the way of guidance about the timing with which monetary accommodation would be withdrawn, but neither was she keen to dampen expectations, and her comments on the economy suggested a degree of confidence.
8 May 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Frank Elderson on Friday confirmed that a 50-bps rate hike will be on the ECB’s agenda shortly, but gave no indication as to whether he supported a policy move of that size.
8 May 2022
By David Barwick – FRANKFURT (Econostream) – What a change a few weeks can make. On Thursday, European Central Bank Executive Board member Fabio Panetta made substantive comments about the proper course for monetary policy that to some extent could have been uttered by a relatively hawkish member of the ECB’s Governing Council.
5 May 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Tuesday presented a strong case for taking policy action relatively soon, suggesting in particular that net asset purchases could end in June with a first rate hike the following month.
4 May 2022
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.
2 May 2022
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.
2 May 2022
- Holzmann: One purchase programme still there, scheduled to end in July
- Holzmann: Greatest concern is inflation expectations
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.
28 April 2022
- ECB insider: Higher depreciation of euro can affect HICP projection at end of horizon
- ECB insider: Agree with Klaas Knot that we should counter continued euro depreciation
- ECB insider: ‘Sudden [exchange rate] shifts need to be taken into account’
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.
28 April 2022
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.
26 April 2022
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.
25 April 2022
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.
25 April 2022
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.
25 April 2022
Exclusive: 50-bp Rate Hike Not ECB Baseline for Now, But Council Will Have to Discuss
- ECB insider: Some hawks will push for 50-bp hike to get away from negative rates
- ECB insider: Expect spread between DFR and MRO to be narrowed during normalisation
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.
15 April 2022