By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Friday that even minor but persistent deviations from the ECB’s inflation target could affect inflation expectations, stressing that the ECB should not tolerate a sustained undershoot.
5 December 2025
– The ECB Tone Meter moved slightly dovish this week, with the Governing Council reading at -0.12 , which we classify as...
– European Central Bank Vice President Luis de Guindos said on Thursday that economic growth in the euro area had been subdued...
– Following is the full transcript of the interview conducted by Econostream on 4 December 2025 with Markus Stix, Managing...
- Markus Stix, Austrian Treasury Managing Director: 2026 gross issuance seen €43–45bn vs. €45bn in 2025 -...
By Marta Vilar – MADRID (Econostream) – Following is the full transcript of the interview conducted by Econostream on 4 December 2025 with Markus Stix, Managing Director in charge of markets at the Austrian Treasury.
4 December 2025
- Markus Stix, Austrian Treasury Managing Director: 2026 gross issuance seen €43–45bn vs. €45bn in 2025
- Stix: “We again aim for three euro syndications” in 2026
- Stix: Will be active in issuance in 1H26, but will keep “some powder dry for later”
- Stix: Open to opportunistic long-end issuance via taps of outstanding century bonds
- Stix: No plans to issue a new century bond in 2026
- Stix: New green bond via syndication in 2026 “one of many options”
- Stix: Would consider CHF market again to fund new green eligible expenditures
- Stix: No plans to add additional tenors to Bundesschatz program
By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on 27 November 2025 with Mārtiņš Kazāks, Governor of Latvijas Banka and member of the Governing Council of the European Central Bank:
2 December 2025
By David Barwick – FRANKFURT (Econostream) – The likelihood that the European Central Bank would cut if confronted with a negative inflation shock is greater than the probability of it hiking in response to a positive shock of equal magnitude, according to ECB Governing Council member Mārtiņš Kazāks.
2 December 2025
By David Barwick – FRANKFURT (Econostream) – Philip Lane’s Ljubljana speech on Wednesday reads like a belated attempt to pull ECB communication back toward its own strategy just as Governing Council members work to downplay the significance of what looks increasingly like another projected undershoot in 2028.
3 December 2025
By Marta Vilar – MADRID (Econostream) – The ECB Tone Meter moved slightly hawkish this week, with the Governing Council reading at -0.09, which we classify as broadly neutral but still with a marginal dovish tilt, and the Executive Board at +0.20, which we view as neutral with a marginal hawkish lean.
28 November 2025
By David Barwick – FRANKFURT (Econostream) – The ECB will soon unveil its first staff projections for 2028, complete with a revised profile of the inflation impact of ETS 2. On paper, that should be a big moment: an extra year of forecast, a new carbon-price shock and an inflation target that is supposed to be symmetric. In practice, Governing Council members are working to make sure it is not.
26 November 2025
- Our call (part 3): Knot to replace Lagarde; Bénassy-Quéré to be next chief economist
19 November 2025
As of 5 December 2025
ECB Tone Meter