By David Barwick – FRANKFURT (Econostream) – German economic output fell a real, seasonally and calendar-adjusted 1.8% on the quarter in the first quarter of 2021, the German Federal Statistical Office announced on Tuesday.
25 May 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday rejected as ‘pure speculation’ any talk of slowing the pace of asset purchases under the ECB’s pandemic emergency purchase programme (PEPP).
25 May 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday called it still far too soon to discuss the possibility of tapering the ECB’s asset purchases.
21 May 2021
By David Barwick – FRANKFURT (Econostream) – The June policy meeting of the European Central Bank’s Governing Council appears somewhat less likely to become an inflection point with respect to the degree of monetary accommodation, based on comments Friday by ECB President Christine Lagarde.
21 May 2021
By David Barwick – FRANKFURT (Econostream) – Inflation in Germany could temporarily hit 4% toward the end of the year, the German Bundesbank said on Friday in its latest monthly bulletin, an increase from recent previous monthly bulletins in which it had only predicted German HICP rates ‘clearly’ above 3%.
21 May 2021
By David Barwick – FRANKFURT (Econostream) – Producer prices in Germany rose by 5.2% on the year in April, the highest annual rate of increase since the same rate in August 2011, the German Federal Statistical Office announced on Thursday.
20 May 2021
By David Barwick – Frankfurt (Econostream) – German Finance Minister Olaf Scholz on Thursday said that individual creditor groups cannot be allowed to prevent necessary restructuring of sovereign debt burdens.
20 May 2021
By David Barwick – FRANKFURT (Econostream) – The European Central Bank sees no reason at present for its interest rates to increase, Executive Board member Isabel Schnabel said on Wednesday.
20 May 2021
By David Barwick – FRANKFURT (Econostream) – The uneven economic impact of the pandemic has exacerbated financial stability risks in the euro area, the European Central Bank said on Wednesday.
19 May 2021
By David Barwick – FRANKFURT (Econostream) – The risks to the economic recovery are to the downside and a premature withdrawal of policy support measures should be avoided, European Central Bank Governing Council member Constantinos Herodotou said on Wednesday.
19 May 2021
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will continue to set the pace of asset purchases under the pandemic emergency purchase programme (PEPP) – potentially implying an extension of the programme - so as to keep financing conditions favourable, ECB Governing Council member Pablo Hernández de Cos said Wednesday.
19 May 2021
By David Barwick – FRANKFURT (Econostream) – Seasonally adjusted Eurozone GDP declined by 0.6% on the quarter and 1.8% on the year in 1Q of 2021, EU stats office Eurostat reported on Tuesday.
18 May 2021
By David Barwick – FRANKFURT (Econostream) – The pandemic and in particular policy measures to mitigate its economic fallout may have led to an increase in the prevalence of so-called zombie firms in the euro area, according to an article from the ECB financial stability review published Tuesday.
18 May 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday categorically rejected the possibility of inflation returning to the Eurozone and predicted sustained accommodative monetary policy.
18 May 2021
By David Barwick – FRANKFURT (Econostream) – Asset purchases under the European Central Bank’s public sector purchase programme (PSPP) led to an average maturity increase of 13 months in the sovereign debt issued by the euro area’s largest economies, according to an ECB working paper published Monday.
17 May 2021
By David Barwick – FRANKFURT (Econostream) – The account of the European Central Bank’s policy meeting of 21-22 April, released by the ECB on Friday, indicated that despite President Christine Lagarde’s reluctance to mention upside risks at the subsequent press conference, some participants in the Governing Council meeting highlighted these.
14 May 2021
By David Barwick – FRANKFURT (Econostream) – The display of dovishness by European Central Bank President Christine Lagarde following the last Governing Council meeting may not have faithfully reflected the sentiment of the entire Council during the preceding monetary policy deliberations.
14 May 2021
By David Barwick – FRANKFURT (Econostream) – Weak price pressures and the fragile nature of the economic recovery in the euro area suggest that monetary policy needs to remain very accommodative for now, according to Banco de España.
13 May 2021
By David Barwick – FRANKFURT (Econostream) – The European Central Bank should adjust pandemic emergency purchase programme (PEPP) buying whenever market interest rates increase without a corresponding move of the medium-term inflation outlook to its pre-pandemic path, ECB Governing Council member Pablo Hernández de Cos said Thursday.
13 May 2021
By David Barwick – FRANKFURT (Econostream) – There is no evidence calling for a change in the European Central Bank’s asset purchases under its pandemic emergency purchase programme (PEPP), ECB Governing Council member Yannis Stournaras said Thursday.
13 May 2021