By David Barwick and Marta Vilar – VALLETTA (Econostream) – If downside surprises led to a medium-term inflation outlook in the euro area below the European Central Bank’s 2% target, this could argue for another rate cut, according to ECB Governing Council member Alexander Demarco.
19 February 2026
By David Barwick – FRANKFURT (Econostream) – The Bundesbank said in its February monthly report published Thursday that the euro area economy was likely to expand again at a moderate pace in early 2026, with activity supported by consumption and investment even as trade headwinds and euro strength weigh on exports.
19 February 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Frank Elderson on Thursday said most banks under ECB supervision have now built the capacity to manage climate- and nature-related risks, after supervisors escalated pressure in steps that largely avoided periodic penalty payments.
19 February 2026
By David Barwick – FRANKFURT (Econostream) – We return today to European Central Bank Governing Council member François Villeroy de Galhau’s habit of staking out positions with confidence and then recalibrating seamlessly without acknowledging the recalibration—a habit that now looks like teeing up a potential easing pitch before he leaves office.
19 February 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Wednesday defended central bank independence as essential to credible monetary policy, arguing that insulating rate decisions from short-term politics helps keep inflation expectations anchored and macroeconomic volatility contained.
18 February 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank (ECB) Governing Council member François Villeroy de Galhau on Wednesday argued that the ECB’s interest-rate stance was “well positioned” but should remain flexible, saying he was convinced with respect to inflation that “the downside risks are greater.”
18 February 2026
By David Barwick – FRANKFURT (Econostream) – The Financial Times report on Wednesday that Christine Lagarde is expected to leave the European Central Bank (ECB) before her term ends is best treated as a timely reminder that the clock is ticking.
18 February 2026
By David Barwick – FRANKFURT (Econostream) - European Central Bank President Christine Lagarde will depart from the ECB before the end of her eight-year term on 31 October of next year, according to the Financial Times on Wednesday.
18 February 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Monday that Europe has been significantly affected by geoeconomic fragmentation and should do everything possible to maintain close cooperation with the United States.
16 February 2026
By Marta Vilar – MADRID (Econostream) – Following is the full transcript of the interview conducted by Econostream on 6 February 2026 with Matthew Emde, Director General of Funds Management at the Canadian Department of Finance:
16 February 2026
By Marta Vilar – MADRID (Econostream) – Canada is “working hard” toward issuing a transition bond in 2027, with the intention of making it a benchmark deal, according to Matthew Emde, Director General of Funds Management at the Department of Finance.
16 February 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank (ECB) President Christine Lagarde on Saturday said trade and supply-chain dependencies had become a security issue for Europe, arguing that a more volatile geoeconomic environment would likely bring more frequent episodes of financial market stress.
14 February 2026
By Marta Vilar – MADRID (Econostream) – The European Central Bank has expanded access to its repo facility, granting standing eligibility in principle to central banks globally, according to a press release.
14 February 2026
By Marta Vilar – MADRID (Econostream) – Econostream’s ECB Tone Meter showed the Governing Council and the Executive Board remained broadly stable this week, with only a marginal hawkish shift in each that is unlikely to be materially significant.
13 February 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Mārtiņš Kazāks said on Friday that the ECB had yet to see the full impact of the appreciation of the euro, adding that it would likely feed through by this spring.
13 February 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Thursday that the ECB should press ahead with reducing its balance sheet to rebuild policy space and be better prepared for unexpected shocks.
12 February 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank (ECB) Governing Council member Gabriel Makhlouf on Thursday said he was not ruling out further interest-rate reductions but also did not exclude the possibility that rates could rise, while arguing that inflation was on track to return to the ECB’s 2% target.
12 February 2026
By David Barwick – VIENNA (Econostream) – European Central Bank (ECB) Executive Board member Isabel Schnabel on Wednesday argued that portrayals of Europe as a continent in decline are “misleading,” and urged policymakers to unlock the Single Market’s potential to give European firms the scale they need to compete globally.
11 February 2026
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Joachim Nagel said on Wednesday that he would not try to forecast what the ECB's next rate move would be, adding that he saw value in the monetary policy stance of recent months.
11 February 2026
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Wednesday argued that the widely cited narrative of a declining Europe is “misleading.”
11 February 2026