By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde’s rejection on Monday of the idea that she had not countered market rate expectations with much strength neatly underscored the true motive for what was indeed the weakness of that pushback.
15 November 2021
By David Barwick – FRANKFURT (Econostream) – For someone normally known as a strong proponent of building consensus, European Central Bank President Christine Lagarde’s announcement last week of the end of the pandemic emergency purchase programme (PEPP) next March has some scratching their heads.
5 November 2021
By David Barwick – FRANKFURT (Econostream) – Time flies at the European Central Bank, where President Christine Lagarde on Thursday unexpectedly deemed it the moment to debate, decide and announce the future of the ECB’s pandemic emergency purchase programme (PEPP).
28 October 2021
By David Barwick – FRANKFURT (Econostream) – Of increasing interest lately is the possibility that the European Central Bank might ultimately deviate from monetary policy orthodoxy and start the lift-off from its low interest rates before asset purchases have come to a complete halt. An insider Econostream spoke to suggested such a sequencing inversion would ultimately prevail.
27 October 2021
By David Barwick – FRANKFURT (Econostream) – Rare is the Governing Council meeting of the European Central Bank that is preceded by as thin a trickle of communication from the Executive Board as the gathering this week.
26 October 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau, freshly nominated to a second term at the helm of Banque de France, delivered a speech on Tuesday in which he staked out a broad array of bold positions:
13 October 2021
By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on October 6 with Maric Post, Director Treasury and Capital Markets at the Belgian Debt Agency:
12 October 2021
By David Barwick – FRANKFURT (Econostream) – Belgium’s government funding plans in the years ahead will probably be of a magnitude like that of the current year, according to Maric Post, Director Treasury and Capital Markets at the Belgian Debt Agency (BDA).
12 October 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Chief Economist Philip Lane’s speech on Monday raises the possibility that the ECB is even less inclined to withdraw support than previously thought.
11 October 2021
By David Barwick – FRANKFURT (Econostream) – The European Central Bank remains profoundly unsure about where inflation in the euro area is headed, and while Executive Board member Isabel Schnabel’s speech on Thursday offered an interesting recital of many reasons why, it served to highlight that uncertainty more than to shed any new light.
7 October 2021
By David Barwick – VALLETTA (Econostream) – Following is the full transcript of the interview conducted by Econostream on October 1 with Edward Scicluna, Governor of the Central Bank of Malta and member of the Governing Council of the European Central Bank:
6 October 2021
By David Barwick – VALLETTA (Econostream) – The achievement of price stability in the euro area by 2025 cannot be ruled out, with economic agents’ reactions to higher inflation the key to future developments, European Central Bank Governing Council member Edward Scicluna said Friday.
6 October 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Monday conceded the strength of the recovery in the euro area and in particular in his native Greece, all while vehemently urging monetary authorities to discount presently elevated inflation and maintain the current degree of accommodation.
4 October 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde’s unremarkable contribution on Wednesday to the policy panel of the ECB Forum on Central Banking was probably reflective of the inescapable fact that there remain months to go until the ECB’s next date with destiny, so that for now it is simply waiting and hoping for a bit of clarity to emerge from the fog.
29 September 2021
By David Barwick – FRANKFURT (Econostream) – As the emergency phase of the pandemic marches on towards its end, perhaps the toughest debate awaiting the European Central Bank’s Governing Council is that about how much of the pandemic emergency purchase programme (PEPP)’s vaunted flexibility can and should be retained beyond the life of the PEPP.
29 September 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Tuesday took a step back from her recently relatively hawkish language on inflation as she delivered a carefully scripted speech devoid of new policy conclusions to open the ECB Forum on Central Banking.
28 September 2021
By David Barwick – FRANKFURT (Econostream) – Of the possible takeaways from European Central Bank President Christine Lagarde’s European Parliament Q&A on Monday, a prominent candidate might be that the Eurotower doesn’t put too much stock in its latest inflation projections.
27 September 2021
By David Barwick – FRANKFURT (Econostream) – Wide-ranging as it was, the interview by CNBC with European Central Bank President Christine Lagarde published Friday yielded less news than might be expected, not because Lagarde was not asked important questions, but rather because she appeared determined to stick to safe ground and avoid further fueling public debate.
24 September 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Wednesday became the latest monetary policymaker to paint a picture of the euro area economy that would be consistent with a withdrawal of support, a conclusion he was not hesitant to reach.
22 September 2021
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Vice President Luis de Guindos on Tuesday ratcheted up the hawkishness, sounding almost but not quite alarmed about the potential for price pressures to remain elevated and declaring economic risks that had loomed large earlier in the crisis to be essentially null and void.
21 September 2021