By David Barwick – FRANKFURT (Econostream) – Bank of Greece Deputy Governor Christina Papaconstantinou on Monday said that the European Central Bank would need to modify the pace of monetary normalisation if the economy were to slow down significantly.
1 August 2022
By David Barwick – FRANKFURT (Econostream) – The 40% rise in the price of oil incorporated in the latest European Central Bank staff projections implies a medium-term loss in Eurozone potential output of approximately 0.8%, the ECB said on Monday.
1 August 2022
By David Barwick – FRANKFURT (Econostream) – The nature of savings accumulated during the pandemic is such that this money won’t cushion the impact on consumers of recently more expensive energy, the European Central Bank said on Monday.
1 August 2022
By David Barwick – FRANKFURT (Econostream) – As the Eurozone’s economic weakening becomes more apparent, the question of whether or indeed when the ship of monetary policy normalisation might start running out of steam becomes more pressing.
29 July 2022
By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members very directly related to monetary policy’s next steps. We only include forward-looking comments made recently enough to be current. Updates are made on a periodic basis.
29 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Friday said that pandemic policies should be normalised and that the ECB would strive for price stability on the basis of inflation, notwithstanding slower growth.
29 July 2022
By David Barwick – FRANKFURT (Econostream) – The following is a compendium of comments made by European Central Bank Governing Council members very directly related to monetary policy’s next steps. We only include forward-looking comments made recently enough to be current. Updates are made on a periodic basis.
28 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Ignazio Visco on Thursday did not want to commit to a particular magnitude for the expected ECB interest rate hike in September, but suggested that tightening would continue beyond that month despite the brewing economic storm.
28 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Wednesday suggested that rate cuts might not be in the too-distant future, were Europe to enter recession.
27 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pierre Wunsch on Tuesday said that the ECB should get the deposit rate to 1.5% if no severe recession occurred.
26 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Tuesday urged a quick end to what he called a ‘still very expansionary’ ECB monetary policy stance.
26 July 2022
By David Barwick – FRANKFURT (Econostream) – Inflation risks are still predominantly to the upside and have worsened, European Central Bank Governing Council member Pablo Hernández de Cos said Tuesday.
26 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Monday said that core measures of inflation demonstrated that higher price rises for raw materials had affected a much wider range of goods and services.
25 July 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will determine the appropriate magnitude of any future rate hikes when the time comes, ECB Governing Council member Ignazio Visco said on Monday.
25 July 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will decide in the fall whether its next rate hike will be smaller than, equal to or even larger than last week’s 50bp increase, Governing Council member Robert Holzmann said on Sunday.
24 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Saturday said the ECB would continue hiking interest rates until the medium-term inflation outlook was consistent with price stability.
23 July 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Friday conceded that the ECB had given every indication of not being able to come up with a substantive anti-fragmentation programme by yesterday, but asserted that the achievement reflected policymakers’ unity and commitment.
22 July 2022
By David Barwick – FRANKFURT (Econostream) – Yesterday’s larger-than-expected rate hike by the European Central Bank does not alter the ECB’s determination to take official borrowing costs to neutral, Governing Council member Pablo Hernández de Cos said Friday.
22 July 2022
By David Barwick – FRANKFURT (Econostream) – Thursday’s hike of the European Central Bank’s key interest rates was the start of a series of similar moves, Governing Council member Peter Kažimír said Friday.
22 July 2022