Central Bank News

ECB’s Šimkus: ‘March Is an Intention but Not a Commitment’

By David Barwick – FRANKFURT (Econostream) – A rate hike of 50bp next month by the European Central Bank is the current plan, but is not a promise, according to ECB Governing Council member Gediminas Šimkus.

ECB’s Müller: 50BP March Rate Hike Likely, Based on Current Knowledge

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Friday said that the ECB was likely to repeat yesterday’s 50bp rate hike next month, according to currently available information.

ECB’s Rehn: We Said We’d Hike by 50BP in March, But We’ll Also Consider New Forecasts

By David Barwick – FRANKFURT (Econostream) – The European Central Bank has said it would hike rates by another 50bp next month, but it would also take into account the updated staff macroeconomic forecasts, ECB Governing Council member Olli Rehn said on Friday.

ECB’s Kažimír: March Hike Won’t Be Last, But Depending on Forecasts, Can Start in June to Talk of Success

By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to continue to hike interest rates beyond March, but might be able to start considering its efforts as having borne fruit if the March and June forecasts cooperate, Governing Council member Peter Kažimír said Friday.

ECB’s Vasle Says Rates to Rise 50BP in March, Stay at Restrictive Levels

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle said on Friday that he expects key interest rates to rise again by 50bp in March and remain in restrictive territory to ensure inflation falls back to the ECB's 2% target.

ECB Insight: Once Again, the Governing Council Has an Intention

By David Barwick – FRANKFURT (Econostream) – Not for the first time at the European Central Bank, monetary policy has come down to a matter of how much an intention is worth, but with the significant difference that on this occasion, President Christine Lagarde made an earnest effort to address this question, even if the attempt raised yet more questions.

ECB Hawk-Dove Ranking: Lagarde, Lane and other Governing Council Members Reranked

They Said It About Fiscal Policy - Recent Comments of Governing Council Members

FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the relevance of fiscal policy for monetary policy. We include comments made since the December 15 Council meeting.

ECB’s Governing Council Likely Still Inclined to Hike Significantly at a Steady Pace

By David Barwick – FRANKFURT (Econostream) – Rare is the European Central Bank Governing Council meeting devoid of suspense, and although the primary outcome of this week’s gathering – a 50bp hike of all key interest rates – seems a foregone conclusion, what kind of stage President Christine Lagarde will set for the subsequent meeting is well worth speculating about.

ECB: Banks Limit Credit Most Since Debt Crisis as Mortgage Demand Sees Record Fall

By Xavier D’Arcy – FRANKFURT (Econostream) – In a sign monetary policy tightening is working its way through to the real economy, the European Central Bank’s latest Bank Lending Survey (BLS), released Tuesday, showed declining demand for loans and tightening credit standards in the Eurozone.

They Said It About Core Inflation - Recent Comments of Governing Council Members

FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the monetary policy relevance of core inflation. We include comments made since the December 15 Council meeting.

They Said It About ECB Policy Tightening - Recent Comments of Governing Council Members

By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to the appropriate pace of upcoming ECB monetary policy tightening. We include only comments made since the December 15 Council meeting.

ECB’s Nagel Sees No Change of Course, Says Rates to Rise ‘Sharply’ in February and March

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel cautioned on Wednesday against thinking that inflation had peaked, and confirmed the continued need for interest rate hikes.

ECB’s Vasle: 50BP Hikes at Next Two Meetings Appropriate

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle said on Wednesday that he is in favour of hiking the ECB’s key interest rates by 50bp at each of the next two monetary policy meetings.

ECB’s Makhlouf: Need to Hike by 50BP in February and in March, Even if Data-Dependent

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Wednesday called for the ECB to hike rates by 50bp both in February and in March, subject to developments.

ECB Governing Council Non-Monetary Policy Meeting Today Cancelled

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank’s non-monetary policy Governing Council meeting originally scheduled for today has been cancelled, according to the ECB.

ECB’s Panetta Rejects Commitment to 50BP in March, Says Future Hikes Depend Solely on Data

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Fabio Panetta pushed back on Tuesday against the idea of the ECB issuing any ‘unconditional guidance’ on its policy moves beyond February.

ECB’s Villeroy: Interest Rates Should Peak by Summer

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday said that euro area interest rates would probably hit their terminal level by the summer.

ECB’s Nagel: Core Inflation ‘Far Too High’, Monetary Policy’s Job ‘Not Done Yet’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Tuesday suggested that high core inflation meant the ECB had to continue hiking interest rates.

ECB’s Vujčić: Obviously More Interest Rate Hikes to Come

By David Barwick – ZAGREB (Econostream) – The European Central Bank will clearly continue hiking interest rates in the near term, Governing Council member Boris Vujčić said Tuesday.