ECB Commentary

ECB's Rehn states that rates will remain at current levels until at least September 2019 and agrees with market expectations for the timing of the Bank's first rate hike

Source: Newswires

5th August 2018

 

ECB's Nowotny (Hawkish) says he supports the faster normalization of monetary policy.

 

Source: Newswires

 

23rd August 2018

 

ECB's Weidmann (Hawkish) says it is time to end expansionary monetary policy, and ending QE is just the first step

  • Says normalization will be gradual, to take a "few" years, and must avoid delay

  • trade war could be "severely detrimental" to global economy

  • German economy flourishing, upswing is likely to continue, but expansionary pace unlikely to be kept as uncertainty is on the rise

 

Source: Newswires

 

ECB Minutes: Threat of protectionism and prominent trade tensions could weigh on confidence

  • Uncertainties around inflation are receding

  • Policymakers unanimous in maintaining policy stance, and is satisfied that the June decisions are well understood

  • Expectations remain that H1 slowdown was temporary

  • Eurozone growth is solid, broad-based, in line with June projections

  • Winding down of asset purchases will be subject to incoming data

 

Source: ECB

 

31st August 2018

 

ECB’s Nowotny says the ECB should focus on getting the Interest deposit rate out of negative territory by hiking Interest Rates. 

 

Deposit Rate Currently at (-0.4%)

 

Source: ECB

 

17th September 2018

 

ECB's Draghi says he sees a vigorous pick-up in underlying inflation and a pick up will continue in wage growth

 

  • Adds that the realignment of market expectations with those of the governing council was immediate and smooth

  • Domestic price pressures are strengthening and broadening.

 

28th September 2018

 

ECB's Lane says fairly sure core inflation is on an upward path not spectacular but steady enough; ECB guidance on rates is clearly open to revision depending on data

 

  • Adds there is enough improvement in employment to make it hard to see low inflation outcomes

  • Notes dominant tool will be forward guidance on rates 

  • He is open minded about the possibility of hitting limits of labour market slack

  • Says wage inflation we are seeing now will eventually turn into price pressure; wage data in Eurozone zone is increasingly positive.

 

Source: Newswires

 

1st October 2018

 

ECB's Coeure reiterates the ECB's guidance and said the ECB have already started to reduce net asset purchases and anticipate to end them after the end of December

 

Source: ECB

4th October 2018

ECB's Rehn states that rates will remain at current levels until at least September 2019 and agrees with market expectations for the timing of the Bank's first rate hike

 

Source: Newswires