European Central Bank @ecb@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
@EDRRheinMain Danke fürs Teilen!
How has the banking union fared since its creation a decade ago? How should we move forward with our crisis management framework? We will discuss these topics and more at our @EU_SRB and @ecb joint conference in June.
Read the full programme now https://www.bankingsupervision.europa.eu/press/conferences/html/20220623_SRB_and_ECB_joint_conference.en.html
RT @EU_SRB: 23 & 24 June 2022 | Brussels | Hybrid
.@EU_SRB & @ecb Joint Conference #SR…
De Guindos: Two main factors will determine interest rates:
➡ inflation expectations
➡ second-round effects on wages
So far, we haven’t seen anything that would put our medium-term 2% target at risk. But we have to remain very attentive
2/2
🧵 Markets may be pricing in a series of rate hikes, but in the Governing Council we are driven by data, Vice-President Luis de Guindos tells newspaper network @Vocento. We haven’t discussed a predetermined path for rate rises https://www.ecb.europa.eu/press/inter/date/2022/html/ecb.in220501~ab2e82acc8.en.html?utm_source=ecb_Twitter&utm_campaign=220501_speech_LDG
1/2
How did euro area bank lending and money supply evolve in March? How do they compare with February’s figures?
Find out more in the press release https://www.ecb.europa.eu/press/pr/stats/md/html/ecb.md2203~994588c0ba.en.html
Elderson: A full, faithful and timely implementation of Basel III standards will deliver a safer and sounder financial system that supports people, companies and the economy through the challenging times ahead
3/3
Elderson: European banks are strong enough to play by the global rulebook without the need for deviations – and they should be eager to prove this to global markets
2/3
🧵 The revised European banking package represents very good progress, says Supervisory Board Vice-Chair Frank Elderson. But banks may be left exposed to risks if remaining gaps are not closed https://www.bankingsupervision.europa.eu/press/blog/2022/html/ssm.blog220428~6fc9bc7bb0.en.html?utm_source=ecb_Twitter&utm_campaign=220428_speech_FE
1/3
Euro area economic and financial developments by institutional sector (Q4 2021) https://www.ecb.europa.eu/press/pr/stats/ffi/html/ecb.eaefd_full2021q4~186a41bd8d.en.html
Economic Bulletin box: Gradual phasing-out of pandemic collateral easing measures https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202203_07~441fce9f64.en.html
Economic Bulletin box: The recent drivers of household savings across the wealth distribution https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202203_03~46c0614d5f.en.html
Minimum wages are expected to grow considerably in many euro area countries in 2022 and 2023. However, their contribution to overall wage growth is likely to be contained https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202203_04~dd90d8dbde.en.html #EconomicBulletin
Forecasting inflation developments will continue to be a challenge for the foreseeable future, owing to volatile energy prices and the uncertainty from the war in Ukraine. Our staff continuously review and adjust the models and assumptions underlying the projections
3/3
The errors in our energy inflation projections largely reflect unexpected price hikes. More persistent supply bottlenecks and a swifter economic recovery than anticipated have also contributed to our underestimation of inflation when excluding energy and food
2/3
🧵Recent Eurosystem and ECB staff projections have largely underestimated surging inflation. Such forecast errors are widespread across peer institutions, which suggests they are due to unforeseen global factors https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202203_05~6d1fb8f5b0.en.html #EconomicBulletin
1/3
The latest Economic Bulletin is out! The Bulletin presents the economic and monetary information which forms the basis for our policy decisions.
Read more https://www.ecb.europa.eu/pub/economic-bulletin/html/eb202203.en.html
Our 2021 Annual Report is now available in 22 languages
@EP_Economics
De Guindos: Many factors are complicating the outlook for growth and inflation, and uncertainty is high. In this environment, our monetary policy is guided by the principles of optionality, gradualism and flexibility
4/4
De Guindos: The war has also exposed major strategic vulnerabilities in Europe, including our dependency on fossil fuel imports. Speeding up the green transition is therefore crucial
3/4
De Guindos: The war in Ukraine is above all a human tragedy causing enormous suffering. But it is also affecting the economy in Europe. Growth will be slower than expected and inflation is likely to remain high in the coming months
2/4
Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
