News

Bank of Greece: PEPP End Could Boost Greek Government Borrowing Costs

By David Barwick – FRANKFURT (Econostream) – Potentially higher borrowing costs to be borne by the Greek government if the European Central Bank ends its pandemic emergency purchase programme (PEPP) may be one of the hurdles the Greek economy will face in the medium term, according to the Bank of Greece on Monday

ECB Insight: Lagarde’s Who-Could-Have-Ever-Imagined Act

By David Barwick – FRANKFURT (Econostream) – What a difference a few weeks make. After suggesting in late May that the strength of the economic recovery was no better than as expected and actually not all that robust, European Central Bank President Christine Lagarde now seems to be contemplating the positive evolution with eyes wide and jaw slack.

ECB Brief: Panetta Wants Fiscal Authorities to Spend and PEPP Flexibility to Be Retained

ECB’s Centeno: Room for Monetary Policy to Keep a Steady Hand

By David Barwick – FRANKFURT (Econostream) – The European Central Bank has the policy room to maintain a steady hand and continue to ensure favourable financing conditions, ECB Governing Council member Mario Centeno said Monday.

ECB’s Lagarde: Economic Recovery Faster Than Anticipated

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday claimed to be surprised at the strength of the euro area’s economic rebound.

ECB Brief: ECB’s Schnabel Upbeat on Economy, a Bit Less Sure Than Some That Inflation Won't Recover

ECB: Important to Provide Fiscal Support, But Also to Strengthen Fiscal Sustainability

By David Barwick – FRANKFURT (Econostream) – Fiscal support for the recovery is needed for the moment, but euro area member states must also think about shoring up their fiscal affairs, the European Central Bank said on Thursday.

ECB: Upward Price Effects From Semiconductor Shortages Could Show Up With Big Lag

By David Barwick – FRANKFURT (Econostream) – The current shortage of semiconductors can’t be clearly said to have had price effects yet, but these could develop with a significant time lag, the European Central Bank said on Thursday.

ECB Economic Bulletin: Preserving Favourable Financing Conditions Essential

By David Barwick – FRANKFURT (Econostream) – Maintaining favourable financing conditions is an essential part of ensuring the recovery and restoring price stability, the European Central Bank said on Thursday, reiterating the introductory statement of June 10.

ECB Research Bulletin: Central Fiscal Authority Could Help Avoid Low-Inflation Trap

By David Barwick – FRANKFURT (Econostream) – When monetary policy is up against the lower bound, fiscal policy is called on to avoid a self-fulfilling low-inflation trap, according to a research bulletin published Thursday by the European Central Bank.

ECB Insight: ECB’s de Guindos Highlights Economic Improvement

By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos, assessing the economic recovery on Wednesday, struck perhaps the most positive tone heard to date from the ECB Executive Board.

TRANSCRIPT: Interview with Austrian Treasury Managing Director Markus Stix on 18 June 2021

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on June 18 with Markus Stix, Managing Director in charge of markets at the Austrian Treasury:

EXCLUSIVE: Austria Debt Head: Number of 2021 Syndications Hinges on Recovery Strength

- New Forecasts of Austrian Institute of Economic Research to be Relevant for Syndication Plans
- 15-Year Tenor One of Many Options, ‘But Also in the 7-Year There is a Gap’
- If Recovery ‘Continues and Intensifies, We Would Not Rule Out Another Update’

ECB’s Lane: Hard to Have Strong Wage Inflation Under Current Circumstances

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Philip Lane on Tuesday dismissed robust wage developments as unlikely in an environment of weak job markets.

ECB: Slower Pace of Globalisation Won’t Necessarily Help Boost Inflation

By David Barwick – FRANKFURT (Econostream) – A further slowing or even a reversal of globalisation would be unlikely to make an important contribution to restoring euro area price stability, the European Central Bank said on Tuesday.

ECB’s Lagarde: To See Through Current Inflation; Spillover From US Will Be Limited

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Monday said that the ECB would look through the current period of relatively elevated inflation, and that the spillover from much higher US price growth would be limited.

ECB’s Lagarde: Negative Rates a ‘Crucial Element’ of ECB’s Policy Toolbox

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Monday said that the ECB's negative interest rate policy was a ‘crucial’ part of its policy toolbox.

ECB’s Lagarde: Rising Market Rates Could Cause Prematurely Tighter Financing Conditions

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Monday reiterated her warning that if unchecked, increasing market rates could cause an unwanted tightening of financing conditions.

ECB: Euro Area Housing Price Growth Hit 13-Year High in 2020

By David Barwick – FRANKFURT (Econostream) – Housing prices in the euro area grew at the fastest pace in 13 years during 2020, the European Central Bank said on Monday.

German Bundesbank: Strong Upturn Seen in 2Q Despite Supply Constraints

By David Barwick – FRANKFURT (Econostream) – The service sector is expected to drive a strong economic upturn in the current quarter in Germany despite supply constraints, the German Bundesbank said on Monday in its latest monthly bulletin.