Central Bank

Exclusive: ECB Insider: Plan Now Is to Hike at Least Three Times in a Row by 50bp

Exclusive: ECB Insider: Plan Now Is to Hike at Least Three Times in a Row by 50bp

ECB’s Müller: Will Have to Hike Probably Higher Than Markets Have Expected So Far

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Friday said that the ECB’s terminal rate would likely be higher than what markets have thus far envisioned.

ECB’s Villeroy: Will Probably Accelerate Balance Sheet Reduction from July

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Friday said that the ECB would probably step up the speed with which it reduces the size of its balance sheet as of July.

Seeking Compromise on a Rate Hike, But Can Progress on QT Help the ECB Get There?

By David Barwick – FRANKFURT (Econostream) – Econostream continues to expect the outcome of this week’s European Central Bank Governing Council meeting to be a 50bp rate hike, a view we’ve held more or less since 28 October, when President Christine Lagarde clearly set the stage for a deceleration of the tightening pace.

Bank of Greece Deputy Governor Papaconstantinou: ECB Should Act Swiftly but Gradually

By David Barwick – FRANKFURT (Econostream) – Bank of Greece Deputy Governor Christina Papaconstantinou has said that the European Central Bank needs to confront the current inflation situation by acting swiftly but gradually.

ECB’s Stournaras: ‘Would Now Prefer an Increase of 0.5’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Saturday repeated his preference that the December ECB rate hike be 0.5bp rather than 0.75bp.

They Said It: Recent ECB Policymaker Comments on Quantitative Tightening

By David Barwick – FRANKFURT (Econostream) – To the version published on 2 December 2022 of recent public comments by European Central Bank Governing Council members touching on the subject of quantitative tightening, we have added remarks made since.

ECB: Again, Consumer Expectations of Inflation in One Year Rise, But 3-Year Expectations Unchanged

By David Barwick – FRANKFURT (Econostream) – The European Central Bank’s consumer expectations survey, released Wednesday for the fourth time, confirmed the trend of previous months, as expectations in October of inflation in one year rose anew whilst expectations of inflation three years ahead remained unchanged.

ECB Insight: Lane Retreats to Safer Ground on Question of December Rate Hike Size

By David Barwick – FRANKFURT (Econostream) – Strictly speaking, European Central Bank Chief Economist Philip Lane cannot be said to have walked back his previous interview in the one published on Tuesday. But what might appear at first glance to have been doubling down was in fact decidedly more cautious in tone and scope than last month.

ECB’s Lane Leaves December Rate Hike Open, Warns of Second Inflation Wave, Downplays QT

By David Barwick – FRANKFURT (Econostream) – European Central Bank Chief Economist Philip Lane on Tuesday left open the question of whether the ECB Governing Council would hike rates by 75bp or 50bp in December, but warned of a second inflationary wave.

ECB’s Villeroy: Should Reach Neutral Rate of Around 2% at Our December Meeting

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Monday said that this month’s monetary policy meeting of the ECB was likely to see euro area official interest rates reach neutrality at approximately 2%.

ECB’s Makhlouf: 50bp Hike Is Minimum Needed at Our December Meeting

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Monday said that the ECB should hike interest rates this month by at least 50bp.

ECB’s Nagel: ‘What Is Clear Is that the Interest Rate Hikes Must Continue’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Sunday said it was clear that the ECB had to continue to raise official borrowing costs.

ECB’s Villeroy Backs December Rate Hike of 50BP

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Sunday suggested that he would favour a December rate hike by the ECB of 50bp.

ECB’s Nagel: Markets Should Cope Well with Passive Phasing-Out of APP from 1Q 2023

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Friday said that financial markets would be able to deal with the passive roll-off as of next quarter of assets acquired under the ECB’s Asset Purchase Programme (APP).

They Said It: Recent ECB Policymaker Comments on Quantitative Tightening

By David Barwick – FRANKFURT (Econostream) – To the updated version published one week ago of recent public comments by European Central Bank Governing Council members touching on the subject of quantitative tightening, we have added remarks made in the meanwhile.

ECB’s Scicluna: Balance Sheet Reduction to Be Predictable and Gradual

By David Barwick – FRANKFURT (Econostream) – The European Central Bank's effort to reduce the size of its balance sheet would be 'predictable and gradual', ECB Governing Council member Edward Scicluna said Friday.

ECB’s Stournaras: ‘Further Rate Increases Will Need to Be Gradual’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Thursday came out in favour of making any more ECB rate hikes ‘gradual’.

ECB Hawk-Dove Ranking

ECB Insight: Lagarde, Perhaps Wary of Growing Council Divergence, Seeks Tighter Control over NCB Communications

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde is seeking to reinforce the existing ECB communications policy applicable to top Eurosystem officials, according to insiders who spoke to Econostream recently.