By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pierre Wunsch over the weekend said that the ECB’s macroeconomic projections implied that the hiking cycle was far from over and that banking sector turmoil would probably not stand in the way of further tightening by impacting financial markets.
20 March 2023
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Monday said in the context of current banking sector turmoil that Greek banks had ‘close to zero’ exposure.
20 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Robert Holzmann said on Saturday that he expected further rate hikes and that the ECB’s terminal rate could be above 4%.
19 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank announced late Sunday that, in coordination with the Federal Reserve and other major central banks, US dollar 7-day maturity operations would now be available on a daily basis.
19 March 2023
- ECB insider: ‘No doubt that we are still in a tightening mode’
- ECB insider: No hurry to decide on next move, can wait until the time comes
- ECB insider: 50bp hike not much when real interest rates clearly negative
- ECB insider: 4.5% terminal rate only if inflation turns out unexpectedly persistent
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to continue to hike interest rates, but there is no point in speculating about the precise path, Governing Council member Peter Kažimír said Friday.
17 March 2023
By Xavier D'Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Friday that fighting inflation remained the ECB's priority despite recent uncertainty.
17 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle stated on Friday that the ECB's 50bp rate hike on Thursday was motivated by high core inflation data and the new forecasts showing prolonged inflation pressures.
17 March 2023
By David Barwick – FRANKFURT (Econostream) – The European Central Bank stuck to its guns on Thursday, with President Christine Lagarde’s relatively surefooted handling of the press conference after the Governing Council meeting characterised by a calm insistence on data-dependence and watchfulness in the context of a job likely not yet done.
16 March 2023
By David Barwick – FRANKFURT (Econostream) – In considering what this week’s meeting of the European Central Bank Governing Council will bring, we start from the observations that a 50bp hike this week across the board is probably a given despite the Silicon Valley Bank insolvency, putting the spotlight on the post-March policy outlook, and that the Council is showing signs of increasing polarisation.
15 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – Markets’ sudden slashing of their expectations of the European Central Bank’s terminal rate by over 75bp in the wake of the Silicon Valley Bank insolvency could have significant implications for the ECB’s macroeconomic projections, due to be released on Thursday.
14 March 2023
By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members related to ECB monetary policy. We include only comments made since the Governing Council meeting of February 2.
10 March 2023
By David Barwick – GENEVA (Econostream) – The likelihood of a euro area economic downturn is far lower now than it appeared to be a few months ago, European Central Bank Governing Council member Boris Vujčić said Thursday.
9 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Thursday that inflation was approaching its peak in the first half of this year.
9 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde said on Wednesday that the ECB would do whatever it takes to bring inflation down from its currently high levels.
8 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle reiterated on Wednesday that he expected rate hikes to continue after the central bank’s upcoming meeting in March.
8 March 2023
- ECB insider: Reducing pace of hiking post-March to 25bp the correct strategy
- ECB insider: Others will oppose post-March slowdown of tightening pace
- ECB insider: ‘Very little discussion that we are now in restrictive territory’
- ECB insider: Some Council members will see the ECB as no longer very far from the terminal rate
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Klaas Knot said on Tuesday that rate hikes should continue for quite some time beyond the ECB's monetary policy meeting next week.
8 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – The Central Bank of Ireland on Wednesday said that domestic inflation was set to be lower than previously expected in 2023 but that underlying inflation pressures looked set to persist.
8 March 2023
By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Ignazio Visco said on Wednesday that monetary policy would have to move cautiously to protect financial stability and the fragile economy.
8 March 2023