The flash PMI composite output index rose 5.7 points to a 37-month high of 56.8. The services PMI activity index was up 5.1 points to a seven-month high of 50.8, while German manufacturing output registered 68.5, a 6.8-point gain on the month and the highest result since records begain in April 1996, HIS Markit said.
24 March 2021
In a conversation with economics students posted to YouTube, Lane, who is also chief economist, said that ‘once we contain the virus through vaccinations and other medical solutions, there should be a fairly strong bounce back of the economy.’
24 March 2021
The new estimates include a significant downward revision from the previous outlook for this year; in December, Banco de España’s central scenario had envisioned growth of 6.8% in 2021, 4.2% in 2022 and 1.7% in 2023.
23 March 2021
Numbers released Monday indicated a net €21.1 billion worth of pandemic emergency purchase programme (PEPP) purchases in the week up to March 17, with redemptions published today revealing gross purchases in the amount of €21.9 billion.
23 March 2021
In an interview with CNBC posted to the ECB’s website, Lane, who is also chief economist, indicated that the €21 billion in net PEPP purchases last week announced yesterday by the ECB ‘reflect our commitment to have a substantial increase in the pace of purchasing.’
23 March 2021
At the press conference marking the presentation of the annual report of the Austrian National Bank, which he heads, Holzmann said that PEPP purchases would depend on conditions. The increase in purchases decided on March 11 reflected the goal of ‘not permitting that a too-high increase in yields hampers the recovery’, he said.
23 March 2021
In a blog post on the website of the ECB, Lagarde said that ‘while much progress has been made and we can see light at the end of the tunnel, we cannot be complacent.’
22 March 2021
At a press conference for the annual report of the Dutch National Bank, which he heads, Knot said, ‘A full year after the pandemic broke out, we now clearly see light at the end of the tunnel’, but ‘will encounter many hurdles on the path to recovery’.
22 March 2021
By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on Friday with outgoing European Central Bank Governing Council member Vitas Vasiliauskas:
22 March 2021
- PEPP’s €1.85 Trillion ‘Should Be Enough’; Recalibration ‘Not on Our Agenda’
22 March 2021
In its latest monthly bulletin, the German central bank said that HICP would rise over the coming months, driven in part by more expensive crude oil.
22 March 2021
In an interview with German weekly Bild am Sonntag, Scholz said with respect to the public health situation that ‘slowly it is getting better.’
21 March 2021
By David Barwick – FRANKFURT (Econostream) – An interest rate at or below zero is an exception and an exit from such a situation will be discussed after the pandemic is overcome, European Central Bank Governing Council member Robert Holzmann suggested...
19 March 2021
The increase was the ninth in a row and represented a significant increase from January’s +0.9% on the year.
19 March 2021
In a presentation within a banking supervision report of Banco de España, which he heads, de Cos said that ‘it is important to recognise that the final impact of the crisis on the banking sector will depend both on its magnitude and duration and on the effectiveness of economic policies to mitigate its effects on households and firms.’
18 March 2021
In her introductory statement at the Hearing of the ECON Committee of the European Parliament, Lagarde said that the ECB’s decision to ‘significantly’ step up the pace of asset purchases reflected the conclusion that rising risk-free market interest rates and sovereign bond yields could cause overall financing conditions to tighten, she said.
18 March 2021
In a speech text posted to the website of the Estonian central bank, which he heads, Müller said that recently risen sovereign bond long-term yields reflected the fact that ‘some optimism about the outlook is returning globally.’
17 March 2021
The expansion would become more robust next year and deliver growth of 4.0% ‘as demand rises worldwide and consumers run down the savings that they have accumulated’, the GCEE said.
17 March 2021
In an interview with French financial daily Les Echos posted to the ECB’s website, Schnabel said that the decision in December to target the preservation of favourable financing conditions did ‘not mean that we target a specific yield level.’
17 March 2021
In an interview with Bloomberg, Kazimir, who heads the National Bank of Slovakia, said that the recent increase in sovereign bond yields of the euro area wasn’t ‘dramatic for now’, but that the ECB needed to take into account what is happening in the U.S.
17 March 2021