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ECB Insight: A Dovish De Guindos Identifies the ‘Key Question’ for a September Rate Cut

ECB Insight: A Dovish De Guindos Identifies the ‘Key Question’ for a September Rate Cut

By David Barwick – FRANKFURT (Econostream) – With one sentence, European Central Bank Vice President Luis de Guindos on Tuesday seems to have established what information September has to bring for the Governing Council to cut interest rates again. Less explicitly, but to our mind nonetheless unambiguously, he conveyed the expectation that the conditions for more easing would be met eight weeks from now.

23 July 2024
Bundesbank: German Economy to Stabilise Somewhat in 3Q

Bundesbank: German Economy to Stabilise Somewhat in 3Q

By Isabel Teles – FRANKFURT (Econostream) – The German economy's recent downward trend is likely to give way to stabilisation in the third quarter, after having grown less than expected in the spring, the German Bundesbank said on Monday in its latest monthly report.

22 July 2024
ECB’s Makhlouf: Fiscal Policy Key to Stabilising the Economy

ECB’s Makhlouf: Fiscal Policy Key to Stabilising the Economy

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Friday welcomed the European Union’s revised economic governance framework highlighting the importance of fiscal policy.

19 July 2024
ECB’s Vasle: Decisions Will Continue to Be Data-Dependent

ECB’s Vasle: Decisions Will Continue to Be Data-Dependent

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Friday said that the ECB would remain dependent on economic data and in particular on the analysis of inflationary trends when deciding on interest rates, without committing to a predetermined path.

19 July 2024
ECB Insight: Lagarde at Pains to Leave September an Open Question

ECB Insight: Lagarde at Pains to Leave September an Open Question

By David Barwick – FRANKFURT (Econostream) – Having so aptly entitled our pre-ECB press conference analysis ‘No Signals, No Flags, No Guidance, No Promises’, our post-presser analysis might exude a certain satisfaction. It won’t. Instead, we see the need to very slightly modify a central prediction from Tuesday.

19 July 2024
ECB’s Lagarde: ‘What We Do in September Is Wide Open'

ECB’s Lagarde: ‘What We Do in September Is Wide Open'

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday said that there was no predetermined path for euro area interest rates and that the next Governing Council meeting in September would bring important data.

18 July 2024
ECB Leaves Interest Rates Unchanged

ECB Leaves Interest Rates Unchanged

By Isabel Teles – FRANKFURT (Econostream) – The European Central Bank’s Governing Council on Thursday decided to keep its three key interest rates unchanged, as widely expected by markets and analysts.

18 July 2024
ECB Insight: No Signals, No Flags, No Guidance, No Promises

ECB Insight: No Signals, No Flags, No Guidance, No Promises

By David Barwick – FRANKFURT (Econostream) – It is a struggle to come up with much about the European Central Bank Governing Council’s current policy stance that monetary authorities are likely to want to change this week. The key interest rates should figure near the bottom of any list.

16 July 2024
ECB: Net Tightening in Loans to Firms Expected in 2H2024

ECB: Net Tightening in Loans to Firms Expected in 2H2024

By Isabel Teles – FRANKFURT (Econostream) – The European Central Bank’s latest Bank Lending Survey (BLS), released on Tuesday, showed further tightening in 1H of credit standards for loans to enterprises, and that euro area banks continued to expect a net tightening in lending conditions for the remainder of the year.

16 July 2024
ECB: Firms Expect Moderation in Selling Prices and Wage Increases

ECB: Firms Expect Moderation in Selling Prices and Wage Increases

By Isabel Teles – FRANKFURT (Econostream) – The European Central Bank’s Survey on the Access to Finance of Enterprises (SAFE), released Monday, showed that euro area firms expect price and wage increases to moderate and inflation to decline over a one-year horizon.

15 July 2024
ECB’s Knot: AI Could Be Beneficial, Given the Right Regulations

ECB’s Knot: AI Could Be Beneficial, Given the Right Regulations

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Klaas Knot on Thursday said that appropriate policies were necessary to guarantee that artificial intelligence (AI) contributed positively to the economy.

11 July 2024