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

The European Central Bank will send a strong signal of its resolve in tackling inflation to markets and to the euro area public and will hike its benchmark deposit rate

While we do not usually write on policymaker interviews, we believe today’s comments by European Central Bank Executive Board Member Isabel Schnabel, who we have followed closely as one of

The Governing Council of the European Central Bank decided to hike interest rates today by fifty basis points as it simultaneously rolled out a Transmission Protection Instrument (TPI) to address

Markets have taken to heart European Central Bank President Christine Lagarde’s guidance to expect a modest, 25-basis point hike lift-off from the bank’s negative 0.50% deposit rate at its upcoming

European Central Bank President Christine Lagarde has gone out of her way to translate the ECB’s rather oblique message of “gradualism, optionality, and flexibility” into plain language and explicit interest

A few quick observations on some feedback we received on yesterday’s report, SGH 6/22/22, “ECB: Fragmentation, Backstop, and PEPP Reinvestments.” On thresholds and spreads: SGH clients seem to understand, as

Last week, President Christine Lagarde and the Governing Council of the European Central Bank instructed the ECB and Eurosystem staff to present proposals for a standby facility that could be

The Governing Council of the European Central Bank announced today that it will end its bond buying Asset Purchase Program as expected on July 1, and more importantly for markets,

While the press and markets are understandably focused on parsing the brief statement on bond market fragmentation that was just released by the European Central Bank, we urge you to

As President of the European Central Bank, Christine Lagarde’s public policy signals and economic outlook will at times lag, by design, the public discourse of her fellow Governing Council members.

European Central Bank officials have rapidly coalesced around lift-off and the near-term monetary policy normalization path that we have been expecting for quite some time. That consensus now lies squarely

In a series of reports starting in early March, we wrote that consensus across the European Central Bank was coalescing around an accelerated end to the Asset Purchase Program in

European Central Bank President Christine Lagarde noted in her press conference following today’s meeting of the Governing Council that “the journey” towards monetary policy normalization has begun. That means a

We would suggest you put any “on the one hand, on the other hand” summary of the just released minutes of the March 10 European Central Bank meeting of the

The ink had not even dried on the European Central Bank’s last quarterly forecast revision on March 10, and it was already clear to all but the most dovish of

The Governing Council of the European Central Bank agreed today to accelerate its previously communicated Asset Purchase Program tapering path to signal a potential, if not very likely, end to

Some last-minute comments to add to our European Central Bank meeting preview, “SGH 11/22/21, ECB: Rate Hike Optionality,” ahead of tomorrow’s Governing Council decisions, starting with a reminder of a

The meeting of the European Central Bank Governing Council just concluded today marks a sharp shift in positioning and communication by the ECB to lay the groundwork for what we