Latest News

Banco de España Upgrades Growth Outlook to 6.2% in 2021, 5.8% in 2022

By David Barwick – FRANKFURT (Econostream) – The Spanish economy will expand by 6.2% this year and 5.8% next before slowing to 1.8% in 2023, according to the latest projections of Banco de España, released Monday.

ECB Brief: Villeroy Comments on Monetary Policy Support and the French Economic Recovery

ECB’s Villeroy: Must Keep Policy Accommodative; Can Be at Least as Patient as US Fed

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said Friday that the ECB had to keep monetary policy accommodative and that the ECB could be ‘at least as patient’ as the US Federal Reserve in setting policy.

ECB’s Holzmann: 'Leave it to Your Imagination' Where I Stood on Asset Purchase Pace

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Robert Holzmann on Friday declined to say whether he had supported the ECB’s decision yesterday to continue conducting asset purchases under the pandemic emergency purchase programme (PEPP) at the higher pace of the second quarter.

ECB’s Vasle: Still Need Comprehensive Monetary and Fiscal Support

By David Barwick – FRANKFURT (Econostream) – Substantial monetary and fiscal policy support is still necessary to ensure favourable financing conditions, European Central Bank Governing Council member Boštjan Vasle said Friday.

ECB’s Weidmann: Germany Could Already Regain Pre-Pandemic Output Levels This Summer

By David Barwick – FRANKFURT (Econostream) – The German economy may return to pre-pandemic levels of output as early as this summer, ECB Governing Council member and German Bundesbank President Jens Weidmann said Friday.

ECB Insight: Perception of Policy Inflection Point Avoided as ECB Claims ‘Steady Hand’

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Thursday acknowledged more frankly than previously the emerging economic recovery while firmly rejecting in familiar language the idea that tapering had been or would soon be on the Governing Council’s agenda.

ECB Brief: Shift from PEPP to APP Tempting But Not Necessarily Simple

By David Barwick – FRANKFURT (Econostream) – Though the European Central Bank’s Governing Council will probably avoid any discussion tomorrow of the winding down of its pandemic emergency purchase programme (PEPP), such a discussion seems likely to occur before at least some members are ready for it.

TRANSCRIPT: Interview with Dutch State Treasury Agency’s Elvira Eurlings on 04 June 2021

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on June 4 with Elvira Eurlings, head of the Dutch State Treasury Agency:

EXCLUSIVE: Dutch Debt Issuance Head: Don’t Want to Cancel Auctions or Bill Programmes Again

By David Barwick – Frankfurt (Econostream) – The Dutch State Treasury Agency hasn’t ramped up its bill programme out of caution in the context of last year’s pandemic-related need to cancel auctions and bill programmes, according to Elvira Eurlings, head of the DSTA.

German ZEW Expectations Retreat in June, But Current Situation Seen Far Better

By David Barwick – FRANKFURT (Econostream) – The forward-looking ZEW German economic sentiment indicator retreated in June from the previous month’s 20-year high, declining 4.6 points to 79.8, economic research institute ZEW said on Tuesday.

ECB Insight: Governing Council Likely to Want to Avoid Perception of Policy Inflection Point

By David Barwick – FRANKFURT (Econostream) – In contrast to the high expectations for June prevailing in the aftermath of March’s anti-climactic Governing Council meeting, this week’s gathering of the European Central Bank is likely to be less of an inflection point following recent comments by ECB officials that seem to preordain the policy outcome and foreshadow the tone at the subsequent press conference.

ECB Hawk-Dove Ranking: Governing Council Less Dovish Than Its Decisions

ECB’s Šimkus: Inflation Unlikely to Rise to Worrisome Levels; Sustained Surge Unlikely

By David Barwick – FRANKFURT (Econostream) – A prolonged increase of inflation is am improbable scenario and policymakers need to avoid reacting to developments hastily and potentially threatening the recovery, European Central Bank Governing Council member Gediminas Šimkus said Friday.

TRANSCRIPT: Interview with Portuguese Treasury and Debt Management Agency’s Cristina Casalinho on 28 May 2021

By David Barwick – FRANKFURT (Econostream) – Following is the full transcript of the interview conducted by Econostream on May 28 with Cristina Casalinho, head of the Portuguese Treasury and Debt Management Agency:

EXCLUSIVE: Portugal Debt Issuance Head: ‘Negative Interest Rates Should Not Become the Standard’

By David Barwick – Frankfurt (Econostream) – Negative interest rates should not become the norm and a return to positive rates can be seen as a good thing, according to Cristina Casalinho, head of the Portuguese Treasury and Debt Management Agency.

EXCLUSIVE: Portugal Debt Issuance Head: No Question We’ll Do Green Issuance, Just Question of When

- ‘We Need to Be Careful About Bringing Long-Dated Bonds to the Market’

ECB’s Lagarde: Committed to Favourable Financing Conditions Well Into the Recovery

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Wednesday reiterated the ECB’s determination to ensure that euro area financing conditions remain favourable well into the economic recovery process.

ECB’s Weidmann: Will Have to Tighten Policy When Needed to Maintain Price Stability

By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to eventually withdraw monetary accommodation when warranted by the inflation outlook, ECB Governing Council member and German Bundesbank President Jens Weidmann said Wednesday.

ECB Lagarde: Bigger Global Role for Euro May Take Policy Measures, Reform Efforts

By David Barwick – FRANKFURT (Econostream) – The fact that the euro’s international importance, though not high, emerged unscathed from the turbulence of 2020 may indicate that a larger global role for the common currency could only be the result of additional policies and reforms, according to European Central Bank President Christine Lagarde on Wednesday.