By David Barwick – FRANKFURT (Econostream) – The European Central Bank’s consumer expectations survey, released Wednesday for the third time, showed a slight increase in September in expectations of inflation in one year, but no change in the corresponding measure for three years ahead.
9 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – Whether or not the European Central Bank executes a monetary policy pivot as early as December, it seems hardly a matter of debate that its communication has already been laying the groundwork for one to come sooner or later.
9 November 2022 Central Bank News
By David Barwick – GENEVA (Econostream) – European Central Bank Governing Council member Pierre Wunsch on Tuesday said that the view of financial markets that real interest rates would have to approach zero could prove optimistic.
8 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Tuesday said that quantitative tightening in the euro area would start next year but would have to be approached cautiously.
8 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Tuesday called for continued monetary policy tightening even if slower growth were a consequence.
8 November 2022 Central Bank News
- Kazāks: ‘Discussion about the size of the step is appropriate and of course there will be one’
- Kazāks: December step size depends on economy and on whether we adjust other instruments
- Kazāks: Adjusting other instruments could improve policy transmission to all segments of economy
- Kazāks: ‘There is no need to take a pause at the turn of the year, we should continue hiking into next year’
- Kazāks: Any recession ‘likely to be relatively shallow and short-lived, and this would not lead to rate cuts’
- Kazāks: Situation ‘becoming more nuanced’, so natural that our discussions reflect greater ‘diversity of views’
By David Barwick – FRANKFURT (Econostream) – Supply constraints affecting trade in euro area goods are gradually diminishing, whilst tourism services face declining demand ahead, the European Central Bank said on Monday.
7 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Monday said that interest rate hikes should continue until core euro area HICP has clearly peaked, but indicated that a slower pace of hiking may not be far away.
7 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Friday said that the ECB’s job was far from done and that the withdrawal of accommodation might not be sufficient.
4 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Friday made the case for smaller ECB interest rate hikes, saying that he had supported a 50bp move at last week’s monetary policy meeting.
4 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Mario Centeno on Friday said that inflation needed to peak for monetary policy to become more predictable, and that this could occur in the current quarter.
4 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Friday warned that persistently high inflation increased the danger of second-round effects.
4 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Fabio Panetta on Thursday gave a carefully worded defence of a slower pace of monetary policy normalisation.
3 November 2022 Central Bank News
By David Barwick – RIGA (Econostream) – European Central Bank President Christine Lagarde on Thursday said that any recession in the euro area would be mild and thus not the remedy for elevated inflation.
3 November 2022 Central Bank News
By David Barwick – RIGA (Econostream) – The European Central Bank still needs to hike official borrowing costs by a lot and should therefore continue implementing rate increases into next year, according to ECB Governing Council member Mārtiņš Kazāks on Thursday.
3 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank still has ‘some way to go’ on its journey of monetary policy normalisation, Governing Council member Pablo Hernández de Cos said Wednesday.
2 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Wednesday said that economic and geopolitical uncertainty had led to a new period of financial volatility.
2 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to undertake additional rate hikes, but long-term inflation expectations are still well anchored, Governing Council member Pablo Hernández de Cos said Wednesday.
2 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Wednesday said that there remained a long way to the end of the ECB’s current hiking cycle and suggested that quantitative tightening start early next year.
2 November 2022 Central Bank News
By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Tuesday repeated with no obviously significant deviation the main messages of last Thursday’s post-Council meeting press conference, promising despite risen recessionary risks further rate hikes based on a meeting-by-meeting approach.
1 November 2022 Central Bank News