Central Bank

ECB’s Centeno: ‘Inflation Above 2% Is Never Temporary Enough’

By David Barwick – FRANKFURT (Econostream) – Inflation above 2% cannot be temporary enough, European Central Bank Governing Council member Mario Centeno said Thursday.

ECB’s Villeroy: Probably Close to Top of Inflation Hump, Will Reach in a Few Months

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Thursday said that the euro area was probably close to the peak of the current inflation spike and would reach it in a few months.

ECB Insight: Schnabel, on Twitter, Hews Unerringly to the ECB Line

By David Barwick – FRANKFURT (Econostream) – If thought-provoking exegeses of important issues were the goal, the medium of communication would likely be other than Twitter. In a Twitter interview on Wednesday, European Central Bank Executive Board member Isabel Schnabel steered clear of venturing out onto any limbs.

ECB’s Centeno: Period of Low Interest Rates Should Be Followed by a Normalisation

By David Barwick – FRANKFURT (Econostream) – The period of low borrowing costs should give way to a desirable process of normalisation, European Central Bank Governing Council member Mario Centeno said Wednesday.

ECB Insight: Nagel Confirms Expectations by Advocating Prompt Policy Normalisation

By David Barwick – FRANKFURT (Econostream) – If there were any lingering doubts as to where Joachim Nagel, the newest member of the European Central Bank’s Governing Council, stood on the issues of the day, he effectively did away with them on Wednesday by positioning himself clearly in favour of normalising monetary policy sooner rather than later.

ECB’s de Cos: Direction of Monetary Policy Is Clear, But Change Will Be Gradual

By David Barwick – FRANKFURT (Econostream) – The direction of the European Central Bank’s monetary policy is clear, but it would be wrong to make assumptions about timing, and the pace will be gradual in any case, ECB Governing Council member Pablo Hernández de Cos said Tuesday.

ECB Insight: Lagarde Walks Back Last Week’s Hawkishness

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde appeared on Monday to want to take at least some of the hawkish edge off her performance last Thursday.

ECB’s Lagarde: No Hike Until Net Asset Buys Done; High Energy Prices Could Dampen Inflation Outlook

By David Barwick – FRANKFURT (Econostream) – The European Central Bank will stick to its forward guidance and not hike interest rates before net asset purchases have come to an end, ECB President Christine Lagarde said Monday.

TRANSCRIPT: Interview with Finland State Treasury’s Teppo Koivisto on 02 February 2022

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on February 2 with Teppo Koivisto, director of the Finance Division of Finland’s State Treasury and thus responsible for Finnish public debt management:

EXCLUSIVE: Finland Debt Issuance Head: No Imminent Plans to Issue Green Bonds

By David Barwick – Frankfurt (Econostream) – Finland remains disinclined to issue green bonds anytime soon, according to Teppo Koivisto, director of the Finance Division of Finland’s State Treasury and thus responsible for Finnish public debt management.

ECB Insight: Knot’s Thinking on Lift-Off Takes a Hawkish Turn

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Klaas Knot’s Sunday interview revealed a clear and hawkish shift in his thinking that apparently took place over a relatively short period of time.

ECB’s Knot: Expect Rates Lift-Off Around 4Q, Second Step Sometime in Spring 2023

By David Barwick – FRANKFURT (Econostream) – The European Central Bank will probably start hiking interest rates around the end of this year and then follow with a second increase in the spring of next year, Governing Council member Klaas Knot said Sunday.

ECB’s Kazāks: July Probably Too Soon for Rates Lift-Off

By David Barwick – FRANKFURT (Econostream) – The European Central Bank is unlikely to be ready to start hiking interest rates as soon as July, ECB Governing Council member Mārtiņš Kazāks said Monday.

ECB Hawk-Dove Ranking: Lagarde Ranked a Bit Less Dovish, Müller a Bit More Hawkish

They Said it - Recent Monetary Policy Comments Made by ECB Governing Council Members

They Said it - Recent Monetary Policy Comments Made by ECB Governing Council Members

ECB’s Kažimír: Expect Inflation to Stay High for Longer Than We Expected

By David Barwick – FRANKFURT (Econostream) – Inflation will probably remain high for longer than had been anticipated, and risks are to the upside, European Central Bank Governing Council member Peter Kažimír said Friday.

ECB’s Müller: Time to Clearly Reduce ECB’s Support for Economy

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Friday said that it was apparent that the moment had come to reduce ECB policy support for the economy.

EXCLUSIVE: Germany Finance Agency’s Diemer: Will Eventually Cease Issuing 15-Years Entirely

By David Barwick – Frankfurt (Econostream) – The absence of 7-year issuance from Germany’s 2022 funding programme is part of a first step that will in principle eventually lead to the absence of 15-year issuance as well, according to Tammo Diemer, member of the Executive Board of Germany’s Finance Agency.

TRANSCRIPT: Interview with German Finance Agency’s Tammo Diemer on 24 January 2022

Q: What do you make of the fact that benchmark German borrowing costs appear poised to enter positive territory sustainably? How does this influence your approach, in particular against the backdrop of recent comments by a colleague of yours that issuing ultra-long debt may be more challenging as interest rates rise?

ECB’s Vasle: Increasing Risks That Inflation Will Stay High Longer

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Friday warned of a growing threat that inflation would stay elevated for longer than had been anticipated.