By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Sunday suggested that monetary authorities faced a dilemma in balancing the need to combat inflation with the impact of higher borrowing costs on the economy.
25 December 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to take official borrowing costs into restrictive territory in order to get inflation back to a level consistent with price stability, according to ECB Executive Board member Isabel Schnabel on Saturday.
24 December 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank rate hikes of 50bp may be the standard move over the short term, ECB Vice President Luis de Guindos said Thursday.
22 December 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Mario Centeno on Thursday said that he agreed with every ECB rate hike to date in the current hiking cycle and that where the hikes were headed would become clearer once inflation started to subside.
22 December 2022
- ECB insider: No insistence on QT sequence with respect to TLTRO repayments or rate hikes
- ECB insider: Average €15 billion a month of QT ‘a very good start’
- ECB insider: ‘Most likely’ that all maturing bonds will be treated equally
- ECB insider: In terms of QT, ‘we have not done anything that markets were not expecting’
By David Barwick – FRANKFURT (Econostream) – European banks should be able to deal with the negative impact of rising interest rates, but must nonetheless take steps to be ready for possible side effects in the longer run, European Central Bank Vice President Luis de Guindos said Tuesday.
20 December 2022
By David Barwick – FRANKFURT (Econostream) – German core inflation will probably stay high for the time being, the German Bundesbank said on Monday in its latest monthly report.
19 December 2022
By David Barwick – BRUSSELS (Econostream) – The National Bank of Belgium on Monday said that the euro area economy would be in a mild recession at the end of this year and early next year, but that Belgian growth would hold up relatively well and only briefly turn slightly negative, thus avoiding a technical recession.
19 December 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will have to continue to show resolve for at least the next six months, Governing Council member Peter Kažimír said Monday.
19 December 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Tuesday said that the ECB would continue to hike interest rates and that this would involve some difficult months.
19 December 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Joachim Nagel on Friday said that the ECB had to continue striving to restore price stability.
16 December 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Boštjan Vasle on Friday said that the ECB would hike interest rates until they were sufficiently restrictive to restore price stability.
16 December 2022
By David Barwick – FRANKFURT (Econostream) – The European Central Bank will tighten its monetary policy well into restrictive territory, according to Governing Council member Robert Holzmann on Friday.
16 December 2022
- ECB insider: Very clear that we’re going to hike by 50bp in February
- ECB insider: Wouldn’t be surprised if someone questions need for 50bp in March
- ECB insider: Policy will be restrictive as of February rate hike
- ECB insider: Terminal rate has now risen
- ECB insider: December Governing Council decision could have gone either way, 50bp or 75bp
- ECB insider: QT’s impact on monetary policy tightening is ‘minimal’
- ECB insider: QT complements rate hikes, not a substitute for them
- ECB insider: ECB staff probably assumes no need for more big revisions in next projection exercise
- ECB insider: See upside risks to 2025 inflation, especially to core
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Madis Müller on Friday said that the ECB’s terminal rate would likely be higher than what markets have thus far envisioned.
16 December 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member François Villeroy de Galhau on Friday said that the ECB would probably step up the speed with which it reduces the size of its balance sheet as of July.
16 December 2022
By David Barwick – FRANKFURT (Econostream) – Econostream continues to expect the outcome of this week’s European Central Bank Governing Council meeting to be a 50bp rate hike, a view we’ve held more or less since 28 October, when President Christine Lagarde clearly set the stage for a deceleration of the tightening pace.
13 December 2022
By David Barwick – FRANKFURT (Econostream) – Bank of Greece Deputy Governor Christina Papaconstantinou has said that the European Central Bank needs to confront the current inflation situation by acting swiftly but gradually.
13 December 2022
By David Barwick – FRANKFURT (Econostream) – European Central Bank Governing Council member Yannis Stournaras on Saturday repeated his preference that the December ECB rate hike be 0.5bp rather than 0.75bp.
10 December 2022
By David Barwick – FRANKFURT (Econostream) – To the version published on 2 December 2022 of recent public comments by European Central Bank Governing Council members touching on the subject of quantitative tightening, we have added remarks made since.
9 December 2022