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ECB Insight: Amid Economic Weakness and Sagging Credit Demand, ECB to Favour Data-Dependence Over Hawkishness

By David Barwick – FRANKFURT (Econostream) – Yet again, the principal outcome of the European Central Bank’s Governing Council meeting this Thursday seems beyond dispute, given the lack of any obviously adequate reason to backtrack from the 25bp rate hike consistently signalled over the last weeks. It thus once more comes down to how the ECB frames its attitude toward policy decisions ahead.

25 July 2023 Central Bank News

ECB Records Biggest Fall in Business Credit Demand on Record as Rate Hikes Hit Bank Lending

By Xavier D’Arcy – FRANKFURT (Econostream) – In a further sign of rate hikes feeding through to the Eurozone economy, the European Central Bank’s latest Bank Lending Survey, released on Tuesday, showed demand for credit continuing to plummet.

25 July 2023 Central Bank News

They Said It - Recent Comments of ECB Governing Council Members

By David Barwick and Xavier D’Arcy – FRANKFURT (Econostream) – The following is an overview of recent comments made by European Central Bank Governing Council members. We include only comments made since the Governing Council meeting of 15 June, but earlier comments can still be seen in versions up to that of 9 June .

24 July 2023 Central Bank News

They Said It - Recent Comments of ECB Governing Council Members

By David Barwick and Xavier D’Arcy – FRANKFURT (Econostream) – The following is an overview of recent comments made by European Central Bank Governing Council members. We include only comments made since the Governing Council meeting of 15 June, but earlier comments can still be seen in versions up to that of 9 June .

19 July 2023 Central Bank News

Practically Everyone at ECB Expects an Increase of 25BP Next Week, Nagel Says

By Xavier D’Arcy – FRANKFURT (Econostream) – A 25bp hike at next week’s European Central Bank meeting is a near certainty, ECB Governing Council member Joachim Nagel said on Wednesday.

19 July 2023 Central Bank News

TRANSCRIPT: Interview with ECB Governing Council member Šimkus on 17 July 2023

By David Barwick – VILNIUS (Econostream) - Following is the full transcript of the interview conducted by Econostream on 17 July with Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania and member of the Governing Council of the European Central Bank:

19 July 2023 Central Bank News

Exclusive: ECB’s Šimkus: Could Get Back to Discussion of Whether to Do More on QT Early Next Year

By David Barwick – VILNIUS (Econostream) – European Central Bank Governing Council member Gediminas Šimkus on Monday said that pending a careful examination of all pertinent factors, the ECB might want to consider the possibility early next year of picking up the pace of quantitative tightening with respect to its asset purchase programme (APP).

19 July 2023 Central Bank News

ECB Close to Peak on Rates, ‘Not Much’ Tightening Left, Visco Says

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank is close to its terminal rate, though might still have some tightening left to do, ECB Governing Council member Ignazio Visco said on Tuesday.

18 July 2023 Central Bank News

‘Risks of Perhaps Doing Too Much Needs to Be Paid More Attention To’ by ECB, Knot Says

By Xavier D’Arcy – FRANKFURT (Econostream) – The balance of risks to the monetary policy outlook is shifting and the European Central Bank should possibly start paying attention to the risk of overtightening, ECB Governing Council member Klaas Knot said on Tuesday.

18 July 2023 Central Bank News

‘High Probability’ of July ECB Hike, ‘We Will See What the Data Will Tell Us’ in September, Nagel Says

By Xavier D’Arcy – FRANKFURT (Econostream) – There is a high probability that the European Central Bank will hike its key interest rates by another 25bp at its upcoming meeting, but any further hikes will be data-dependent, ECB Governing Council member Joachim Nagel said on Monday.

18 July 2023 Central Bank News

Inflation Could Fall Faster Than ECB Expects, Visco Says

By Xavier D’Arcy – FRANKFURT (Econostream) – Disinflation in the Eurozone could occur faster than the European Central Bank currently expects, ECB Governing Council member Ignazio Visco said on Tuesday.

18 July 2023 Central Bank News

There Is ‘Not Going To Be a Free Lunch’ on Climate Change, ECB’s Wunsch Says

By Xavier D’Arcy – FRANKFURT (Econostream) – European Central Bank Governing Council member Pierre Wunsch emphasised on Monday the necessity for central banks to be clear that there would be no free lunch in terms of fighting climate change, and underlined the importance of upholding the existing policy framework to avoid creating unrealistic expectations.

17 July 2023 Central Bank News

German Core CPI Likely To Remain High Amidst Influence of One-off Effects, Bundesbank Says

By Xavier D’Arcy – FRANKFURT (Econostream) – Core inflation is likely to remain high in Germany over the summer, though inflation data will be distorted by one-off effects, the German Bundesbank said on Monday.

17 July 2023 Central Bank News

‘We Probably Have To Go Further in Order To See a Reversal in Core Inflation’, ECB’s Vasle Says

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank probably needs to go further in its fight against inflation to ensure a durable turnaround in underlying price pressures, ECB Governing Council member Boštjan Vasle said on Monday.

17 July 2023 Central Bank News

They Said It - Recent Comments of ECB Governing Council Members

By David Barwick and Xavier D’Arcy – FRANKFURT (Econostream) – The following is an overview of recent comments made by European Central Bank Governing Council members. We include only comments made since the Governing Council meeting of 15 June, but earlier comments can still be seen in versions up to that of 9 June .

14 July 2023 Central Bank News

‘I Don’t Think We Are Very Far Off’ End of ECB Rate Hikes, Visco Says

By Xavier D’Arcy – FRANKFURT (Econostream) – The European Central Bank is not far from the end of its rate hike cycle, ECB Governing Council member Ignazio Visco said on Thursday.

13 July 2023 Central Bank News

TRANSCRIPT: Interview with ECB Governing Council member Stournaras on 11 July 2023

By David Barwick – ATHENS (Econostream) - Following is the full transcript of the interview conducted by Econostream on 11 July with Yannis Stournaras, Governor of the Bank of Greece and member of the Governing Council of the European Central Bank:

13 July 2023 Central Bank News

Exclusive: ECB’s Stournaras: Investment Grade for Greece Should Induce Many More Funds to Invest Here

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Monday said that when Greece returns to investment grade, it would likely result in very significant new foreign direct investment or financial investment.

13 July 2023 Central Bank News

Exclusive: ECB’s Stournaras: We Said a July Hike Was Likely, ‘But The Data Have Now Become Weaker’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Monday said that new data showing economic weakness cast doubt on whether the ECB’s central economic scenario was materialising and underscored the tentative nature of any further monetary tightening.

13 July 2023 Central Bank News

ECB Will Keep Door Open to More Hikes Once We’ve Reached Terminal Rate, Vujčić Says

By Xavier D’Arcy – FRANKFURT (Econostream) – Once it reaches the terminal rate, the European Central Bank will leave the door open to further rate hikes and is unlikely to announce that the hiking cycle is over, ECB Governing Council member Boris Vujčić said on Wednesday.

12 July 2023 Central Bank News