In volatile times, the right policy response is to do the right thing, and that includes holding a steady hand. That is exactly what the European Central Bank Governing Council
European Central Bank officials, on two key fronts, face a much easier decision than their counterparts at the US Federal Reserve when the Governing Council convenes on Thursday for its
Despite a series of problematic national and Eurozone aggregate inflation prints that were just released this week, the overall message from European Central Bank officials in the run-up to the
Bank of Spain Governor and European Central Bank Governing Council member Pablo Hernandez de Cos, who has distinguished himself as the toughest inflation fighter among his southern European colleagues, warned
The European Central Bank hiked all three of its policy interest rates by 50 basis points today, lifting its benchmark deposit rate from 2.0% to 2.5%, as was clearly flagged
It was not so long ago that many European Central Bank officials were lobbying hard for a rapid, so called “Phase Two” deceleration from the aggressive 50 and 75 basis
European Central Bank hawks may have lost a skirmish when the Governing Council decided, as widely expected, to de-normalize the “jumbo” 75 bp rate hike pace of the last two
There is a major disconnect between market expectations and pricing, and the policy rate European Central Bank officials increasingly feel will be needed to bring inflation back down to their
In a series of reports leading up to this week’s meeting of the Governing Council of the European Central Bank we noted that while there was a clear desire by
European Central Bank Executive Board member Isabel Schnabel, who we have long considered to be the most important and influential thought leader on the Board in support of President Christine
In yesterday’s report, (SGH 11/22/22, “ECB: Frontloading Pressures”), we outlined ongoing pressures beneath the surface across the ECB to continue the process of frontloading interest rate hikes. And while 50bps
After a pair of jumbo-sized 75 basis point rate hikes to bring its policy rate to 1.5%, and concerned about potential recessionary pressures, the European Central Bank’s lean, if not
There was little drama going into today’s monetary policy meeting of the European Central Bank surrounding a second, outsized 75-basis points rate hike that had for some time now been
In yesterday’s report, “ECB: Rates, Remuneration, and Balance Sheet,” we inadvertently triggered a bit of a tempest among some of our clients that are deeply familiar with the workings of
The European Central Bank will hike its benchmark deposit rate by 75 basis points, from 0.75% to 1.50%, when the Governing Council convenes again in Frankfurt next Thursday, October 27
European Union leaders managed to agree last Friday that they would like natural gas and energy prices more generally to be lower, but that is where consensus ended. How to reach that
European Union governments and the European Central Bank are struggling to reconcile two objectives that are contradictory and whose policy responses are pulling the economy in opposite directions: how to
The European Central Bank is monitoring potential spillover effects on euro area banks and pension funds from the collapse in UK gilt markets but believes it to be contained. Through
We believe the single, overarching take away for markets from Christine Lagarde’s press conference today following the European Central Bank Governing Council meeting should be just how many references the
