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ECB’s Makhlouf: Our Decisions Depend on Economy, Health Measures and Fiscal Support

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Friday said that the ECB’s decisions would depend on the economy, the removal of pandemic containment measures and the withdrawal of fiscal support.

ECB Insight: Visco Still Fighting the Same Battle, Just a Bit Better Equipped

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member and Banca d’Italia Governor Ignazio Visco on Thursday shared his interpretation of the outcome of the ECB’s monetary policy strategy review, an interpretation naturally favouring monetary accommodation but otherwise thoroughly redolent of his traditional diagnoses and prescriptions.

ECB’s Villeroy: Delta Variant Not the Main Threat to the French Economy

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said Thursday that the delta variant of the coronavirus was not the main risk to the French economy, but rather that the insufficiency of labour was.

ECB Brief: Schnabel Reveals Unsuspected Optimism About Regaining Price Stability

ECB’s Schnabel: Optimistic We’ll Hit Inflation Target Sooner Than Some Expect

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel said on Wednesday that she was optimistic about prospects for a return to price stability sooner than some anticipate.

ECB’s Makhlouf: ‘Transitory … Is Even Less Than the Word Temporary’

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Gabriel Makhlouf on Wednesday played down the meaning of the word ‘transitory’ in the ECB’s new monetary policy strategy.

ECB’s Centeno: New Strategy Won’t Immediately Change Monetary Policy Stance

By David Barwick – FRANKFURT (Econostream) – The new monetary policy strategy of the European Central Bank will not instantly bring about a change in the policy stance, Governing Council member Mario Centeno said Wednesday.

ECB Insight: Lagarde Abandons Pretence of Big Happy Family

By David Barwick – FRANKFURT (Econostream) – Although both public comments by European Central Bank Governing Council members and the published accounts of their monetary policy meetings had pointed in the last months to a widening rift, ECB President Christine Lagarde has tended to gloss over any discord – until now.

ECB’s Lagarde: ‘Persistent’ Means No More Premature Tightening as in the Past

By David Barwick – FRANKFURT (Econostream) – The reference in the European Central Bank’s new strategy framework to the need for persistent measures to counter undershooting of the inflation target is meant to exclude premature monetary tightening, ECB President Christine Lagarde said Tuesday.

ECB’s Centeno: Must Adapt Forward Guidance to New Strategy or Lose Credibility

By David Barwick – FRANKFURT (Econostream) – The European Central Bank needs to bring its forward guidance into line with its new monetary policy strategy, ECB Governing Council member Mario Centeno said Tuesday.

ECB Insight: Lagarde Prepares to Make the Most of the New Policy Framework

By David Barwick – FRANKFURT (Econostream) – That the outcome of the European Central Bank’s monetary policy strategy review was a boon to the doves on the Governing Council is clear; comments by ECB President Christine Lagarde over the weekend suggest that the doves could be keen to put their advantage to use at the next opportunity.

ECB’s Stournaras: New Strategy Makes Us Better Able to Deal with Future Shocks

By David Barwick – FRANKFURT (Econostream) – The new monetary policy strategy of the European Central Bank will better enable the institution to address future shocks, ECB Governing Council member Yannis Stournaras said Sunday.

ECB Insight: Meeting Account Reveals Widening Differences on Governing Council

By David Barwick – FRANKFURT (Econostream) – The account released Friday of the June 9-10 monetary policy meeting of the European Central Bank’s Governing Council showcased opinions that differed more starkly than at any other recent such gathering, setting the stage for a potentially strident reunion at the next such occasion in ten days.

ECB Insight: Schnabel Comments Support Expectation That ECB Won’t Rush to Exit

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel’s comments over the weekend lend credence to the expectation that the ECB will not step on the brakes too quickly even when inflation shows clear signs of revival.

ECB’s Schnabel: 2023 Inflation Forecast ‘Surrounded by Uncertainty’

By David Barwick – FRANKFURT (Econostream) – The European Central Bank’s medium-term inflation projection is surrounded by uncertainty, Executive Board member Isabel Schnabel said on Saturday.

ECB Meeting Account Shows 2023 HICP Forecast Widely Seen as Subject to Upward Risks

By David Barwick – FRANKFURT (Econostream) – The account of the European Central Bank’s policy meeting of 9-10 June, released by the ECB on Friday, indicated a growing lack of confidence among Governing Council members that inflation would undershoot the price stability objective to the extent projected.

ECB’s de Cos: Temporary Overshooting an ‘Important Point’ of Strategy Review Outcome

By David Barwick – FRANKFURT (Econostream) – The explicit recognition of the possibility of temporarily overshooting the inflation objective is an important result of the European Central Bank’s strategy review, ECB Governing Council member Pablo Hernández de Cos said Friday.

ECB’s Weidmann on Strategy Review: Not Aiming for Above or Below 2%

By David Barwick – FRANKFURT (Econostream) – The outcome of the European Central Bank’s strategy review establishes a clear target monetary policy will aim neither to overshoot nor undershoot, ECB Governing Council member and German Bundesbank President Jens Weidmann said Friday.

ECB’s Müller: Monetary Accommodation Has Been Beneficial, But Not Without Risks

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller warned Friday that ECB policies had been beneficial, but also brought risks of asset overvaluation and dangerously high debt levels.

ECB’s Makhlouf: Delta ‘More Likely to Delay Recovery Than Fundamentally Change It’

By David Barwick – FRANKFURT (Econostream) – The delta variant of the coronavirus will probably delay the economic recovery without having a large effect on it, European Central Bank Governing Council member Gabriel Makhlouf said on Friday.