ECB’s Villeroy: Inflation “Calls for Great Vigilance on Our Part”
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Monday called for continued vigilance on inflation.
13 April 2026
Central Bank
ECB Tone Meter Weekly Update: Hawkish Tilt Strengthens Despite Middle East Ceasefire
By Marta Vilar – MADRID (Econostream) – Econostream’s ECB Tone Meter continued to move slightly higher this week for both the Governing Council and the Executive Board, even in the wake of the Middle East ceasefire.
10 April 2026
ECB’s de Guindos: Outlook to Move Closer to Baseline if Middle East Peace Deal, Reopening of Strait of Hormuz
By Marta Vilar – SORIA, Spain (Econostream) – European Central Bank Vice President Luis de Guindos said on Friday that the euro area outlook would move closer to the ECB’s baseline scenario if the Middle East conflict results in a peace agreement and the reopening of the Strait of Hormuz.
10 April 2026
ECB’s de Guindos: No Signs of Inflationary Spiral Yet; Inflation Expectations “Relatively Contained”
By Marta Vilar – SORIA, Spain (Econostream) – European Central Bank Vice President Luis de Guindos said on Friday that there were no signs of a wage-price spiral yet stemming from the increase in energy prices due to the Middle East conflict, adding that inflation expectations were so far “relatively contained.”
10 April 2026
ECB’s Sleijpen: Middle East Conflict Weighing on Growth; Persistent Oil Shock May Feed Into Wages
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Olaf Sleijpen said on Thursday that the ongoing Middle East conflict is already taking a noticeable toll on the global economy and warned that a prolonged period of elevated oil prices could generate second-round effects.
9 April 2026
ECB Insight: Dolenc Adds to Evidence of Little Appetite for Hiking
By David Barwick – FRANKFURT (Econostream) – Our Insights on April 7 , April 1 and March 27 argued that recent European Central Bank Governing Council communication had increasingly come to sound like that of a body dutifully keeping April 30 live while sounding reluctant to move then. Bank of Slovenia Governor Primož Dolenc’s podcast comments on Wednesday reinforce that impression — despite almost certainly having been recorded before the overnight ceasefire between the United States and Iran.
8 April 2026
ECB’s Dolenc Warns Iran Conflict May Push Inflation Higher and Weigh Further on Growth
By Marta Vilar and David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Primož Dolenc said on Wednesday that the war in Iran would negatively impact both inflation and growth, while cautioning more broadly that the conflict would have repercussions for Slovenia, Europe, and the global economy.
8 April 2026
ECB’s Šimkus Says Euro Area Is Moving Toward Less Favorable Scenario
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gediminas Šimkus on Wednesday said the euro area economy was moving toward the ECB’s less favorable scenario and noted that markets were pricing two 25bp rate hikes this year, though he cautioned that such pricing did not predetermine the central bank’s next moves.
8 April 2026
ECB’s Elderson: Fossil Fuel Dependence Makes Price Stability Vulnerable
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Frank Elderson said on Tuesday that Europe’s dependence on imported fossil fuels was making it harder for the ECB to maintain price stability and argued that meeting the continent’s clean-energy targets would reduce the link between volatile global markets and domestic prices.
7 April 2026
ECB’s Stournaras Warns Middle East Escalation Would Weigh on Growth, Lift European Inflation
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Tuesday said an escalation of war in the Middle East was set to weaken growth and raise inflation in Europe, warning of “significant risks” as long as the conflict continued.
7 April 2026
ECB’s Wunsch Does Not Exclude April Hike, Says Move May Be Needed by June
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Pierre Wunsch said Tuesday that he would not exclude an April interest-rate hike and suggested the ECB would likely have to raise rates by June if the Middle East-driven energy shock had not subsided.
7 April 2026
ECB’s Radev: Higher Likelihood of More Adverse Scenario; ECB Must React If Shock Persists
By Marta Vilar – MADRID (Econostream) – European Central Bank Governing Council member Dimitar Radev said on Tuesday that a more adverse scenario had become likelier and that the ECB would need to respond if the shock proves persistent and feeds through to wages, margins and expectations.
7 April 2026
ECB Insight: Villeroy Can Finally Afford to Be Honest About Rate Hikes
By David Barwick – FRANKFURT (Econostream) – It’s easy to picture some of those listening to European Central Bank Governing Council member François Villeroy de Galhau’s speech last Thursday doing a double-take on hearing him say that the next change in ECB interest rates was probably destined to be a hike.
7 April 2026
ECB Insight: Little Rush to Go to Bat for an April Hike
By David Barwick – FRANKFURT (Econostream) – The Insight we published on April 1 argued that European Central Bank Governing Council communication had lately grown distinctly more tentative. Austrian National Bank Governor Martin Kocher’s Politico interview on April 2 lets us make the point more plainly: as things stand today, the burden of proof at the April meeting lies with a hike, not a hold.
7 April 2026
ECB’s Stournaras Says Persistent Energy Shock Would Warrant Tighter Stance
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras said on Monday that the ECB would have to consider a tighter monetary policy stance if Middle East-related energy shocks proved persistent enough to affect medium-term inflation expectations and wages.
6 April 2026
ECB’s Sleijpen: New Data by April Meeting Will Be “Limited”
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Olaf Sleijpen said in a podcast aired Saturday that the amount of new data available by the ECB’s April 30 policy meeting would be limited.
4 April 2026
ECB’s Radev Warns Prolonged Energy Shock Can Spread Through Wider Economy
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Dimitar Radev warned on Friday that a prolonged external shock starting in energy could spread more broadly through the economy, with implications for monetary conditions as well as for businesses.
3 April 2026
ECB’s Villeroy Says Next Rate Move Likely Up, Timing Too Early to Call
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Thursday that it was too early to predict the timing of any ECB rate increase, but that the next move in rates was likely to be upward.
2 April 2026
ECB’s Kocher Says Iran Conflict May Affect Policy Stance, Even if No One Wants Hikes
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Martin Kocher on Thursday said that if the situation in the Middle East continued for a while, it was clear that the ECB’s monetary policy stance would be affected.
2 April 2026
ECB Tone Meter Weekly Update: Governing Council Turns More Hawkish, But Momentum Fades
By Marta Vilar – MADRID (Econostream) – Econostream’s ECB Tone Meter continued to rise this week, albeit at a slower pace than last week, remaining in slightly hawkish territory for both the Governing Council and the Executive Board.
2 April 2026