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They Said It - Recent Comments of ECB Governing Council Members

By David Barwick – 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 14 September, but earlier comments can still be seen in versions up to that of 11 September . Please note that although we generally try to provide full quotes, in some cases, owing to the high volume of policymaker comments, we are limited to paraphrasing these briefly.

11 October 2023

ECB’s Centeno: Overreaction Now Can Cause Unnecessary Economic Slowdown

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Mario Centeno on Monday said that monetary policy transmission needed time to materialise and warned against being impatient and overdoing it.

9 October 2023

BBK Vice President Buch: ‘Credit and Liquidity Risks Could Increase’

By David Barwick – FRANKFURT (Econostream) – German Bundesbank Vice President Claudia Buch warned on Monday of the build-up of risks as a consequence of rapidly risen borrowing costs.

9 October 2023

ECB’s Lagarde: No Wage-Price Spiral for Now, Inflation Steadily Declining

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Sunday said that prices were decelerating steadily and that no wage-price spiral was currently visible.

8 October 2023

ECB’s Visco: Markets Need Long-Term View of Italy’s Growth

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Ignazio Visco on Sunday said that market concerns about Italy required a response.

8 October 2023

ECB’s Villeroy: No Justification for Further Rate Increase

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau said on Friday that he thought there was no reason for further ECB rate hikes.

6 October 2023

ECB’s Schnabel: Future Rate Hikes Not Ruled Out

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Executive Board member Isabel Schnabel on Friday said that further ECB interest rates hikes could be necessary.

6 October 2023

ECB’s Herodotou: ‘Material Uncertainty Continues to Persist’; Must Be Data-Dependent

By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Constantinos Herodotou on Friday said that a high level of uncertainty made it necessary for ECB monetary policy to be data-dependent.

6 October 2023

They Said It - Recent Comments of ECB Governing Council Members

By David Barwick – 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 14 September, but earlier comments can still be seen in versions up to that of 11 September .

5 October 2023

ECB’s Nagel: Very High Core Inflation Still a Worry

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Thursday said he was concerned about still-elevated core inflation.

5 October 2023

ECB’s de Guindos: Inflation Still to Feel Stronger Impact of Tightening

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Vice President Luis de Guindos on Wednesday said that monetary policy tightening should more strongly impact inflation over the next two years, whereas GDP would feel the greatest effect of ECB rate hikes this year.

4 October 2023

ECB’s Lagarde: Current Interest Rates Appropriate to Help Restore Price Stability

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde on Wednesday reiterated that the ECB assessed key interest rates to be sufficiently restrictive.

4 October 2023

ECB’s Villeroy: Integrated European Platform Could Make Euro More Attractive

By Isabel Teles – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Tuesday expressed support for an integrated European platform to facilitate cross-border payments using central bank digital currencies (CBDCs).

3 October 2023

ECB’s Välimäki: Any Additional Delay in Achieving the Target Cannot Be Considered Acceptable

By David Barwick – FRANKFURT (Econostream) – Any further delay the European Central Bank faces in restoring price stability would be unacceptable, Governing Council member Tuomas Välimäki said on Tuesday.

3 October 2023

ECB’s Lane: ‘I Would Not Overly Focus on December as a Critical Decision’

By David Barwick – VILNIUS (Econostream) – European Central Bank Executive Board member Philip Lane on Tuesday said that the December monetary policy meeting of the ECB Governing Council shouldn’t be assumed to be the occasion for an important decision.

3 October 2023

ECB’s Lane: Inflation Going to Come Back Down, and Not Just Because ECB Is Tightening

By David Barwick – VILNIUS (Econostream) – European Central Bank Executive Board member Philip Lane on Tuesday said that monetary tightening in the euro area and other jurisdictions was showing up in various price measures and that disinflation, also at the level of consumer prices, would continue.

3 October 2023

ECB’s Lane: Wages Still Boosting Inflation; Will Be Long Time Before We Know if 2024 Wage Growth Slower

By David Barwick – VILNIUS (Econostream) – European Central Bank Executive Board member Philip Lane on Tuesday said that wage growth was continuing to contribute to euro area price pressures and that it would be well into next year before it would be known whether the slowdown of wages envisaged by ECB projections had materialised.

3 October 2023

ECB’s Šimkus: ‘Way Too Early’ to Celebrate Victory Over Inflation

By David Barwick – VILNIUS (Econostream) – European Central Bank Governing Council member Gediminas Šimkus on Tuesday said that it remained much too soon to celebrate victory over inflation.

3 October 2023

ECB’s Holzmann: To Discuss Ending PEPP Reinvestments at Next Governing Council Meetings

By David Barwick – FRANKFURT (Econostream) – The European Central Bank Governing Council will devote part of its next meetings to discussing an end to the reinvestment of assets purchased under the ECB’s pandemic emergency purchase programme (PEPP), Council member Robert Holzmann said Monday.

3 October 2023

They Said It - Recent Comments of ECB Governing Council Members

By David Barwick – 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 14 September, but earlier comments can still be seen in versions up to that of 11 September .

2 October 2023