The European Central Bank (ECB) explicitly affirmed in today’s policy statement that it is not pre-committing to any rate path from here. To leave no doubt as to what that

There is no expectation of an interest rate decision at the upcoming Thursday, July 18 monetary policy meeting of the European Central Bank. Markets will, however, be keenly watching this

The European Central Bank’s annual conclave at Sintra, Portugal, concluded as we expected with little change to the narrative of a bank that is in the process of removing policy

While out of consensus and a call that has been decidedly more hawkish than markets, as we conveyed to clients on our trip through London last week, we continue to

In the weeks running up to last Thursday’s June 6 “hawkish cut” by the European Central Bank, and after numerous ultra-cautious comments regarding further rate cuts by Governing Council officials,

There was little drama surrounding today’s fully priced decision by the European Central Bank to shave 25 basis points off its benchmark deposit rate, from 4.0% to 3.75%. If we

If the European Central Bank had not already formed consensus around, and widely telegraphed, a 25 bp rate cut at its upcoming policy meeting on June 6, the data over

In a dinner last Tuesday in New York, after probing the reasons for switching our ECB rate call the day before to a maximum of 75 bps, or three cuts

Financial markets have picked up on Isabel Schnabel’s comments in an interview today with Japan’s Nikkei news agency in which the highly influential European Central Bank Executive Board Member explicitly

European Central Bank officials universally agree that the most recent April inflation data are “more or less” in line with the March quarterly projections. With services inflation having finally broken

Today’s eurozone April inflation data reinforces the case for at least three rate cuts by the ECB this year and provides more evidence that the gap between the disinflationary processes

The message from the leadership of the European Central Bank since mid-March has been that beyond a well telegraphed 25 basis points cut in June from its benchmark 4% deposit

The European Central Bank today modified its policy statement to add that if the inflation outlook, core inflation dynamics, and policy transmission evolve as expected in the coming weeks and

Over the past quarter or so we have pushed back on market pricing for a rate cut by the European Central Bank at its meeting on March 7, and at

For about three weeks Euro rates markets have traded in a narrow range, pricing between 85 and 95 basis points of cuts by the European Central Bank for the second

At the latest press conference on March 7, European Central Bank President Christine Lagarde announced that the central bank intends to present the results of its operational framework review on

The European Central Bank confirmed today that its updated operational framework will operate a demand-driven floor system with the deposit facility rate (DFR) as the policy rate. As expected, the

The all-important European Central Bank quarterly staff forecast revisions came in today as expected, with 2024 headline inflation, the biggest mover, dropping from 2.7% to 2.3%, 2024 growth revised down

The Governing Council of the European Central Bank will be presented with important quarterly forecast revisions when it convenes on Wednesday and Thursday of this week for its March 6-7

The Euro area February PMIs released yesterday strengthened the hand of the European Central Bank leadership and Governing Council members who, barring an unforeseen shock to the trend of recent