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
Press release: ECB appoints Myriam Moufakkir as Chief Services Officer https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230217~4a21b2612e.en.html
We will raise rates until incoming data show that policy is sufficiently restrictive, Executive Board member @Isabel_Schnabel tells @bloomberg. We will keep rates high until we see robust evidence of underlying inflation returning to 2% in a timely manner
https://www.ecb.europa.eu/press/inter/date/2023/html/in230217~936be841f2.en.html
How did euro area current account balance evolve in December? How does it compare with the same month a year earlier? Find out more in the press release https://www.ecb.europa.eu/press/pr/stats/bop/2023/html/ecb.bp230217~e8af752234.en.html
Watch again Executive Board member Fabio Panetta speaking about monetary policy after the energy shock at an event with the @CER_EU and @EUdelegationUK in London.
Speech and Q&A here https://www.youtube.com/watch?v=cnQDuvuBt9E&t
Chief Economist Philip R. Lane provides an interim analysis of the interest rate hiking cycle in his Dow Lecture at the National Institute of Economic and Social Research.
Read the lecture https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230216_1~f8cf2cd689.en.html
Euro area firms reported a deterioration in corporate bond market conditions in our latest survey. Historically, this has led bond-issuing firms to take out bank loans, suggesting a worsening in bank lending conditions for smaller firms https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202301_07~78a838eb48.en.html #EconomicBulletin
Eurosystem and ECB staff projections have recently returned to their pre-pandemic levels of accuracy after they underestimated inflation in 2022, amid food and energy price shocks caused by the war in Ukraine. https://www.ecb.europa.eu/pub/economic-bulletin/focus/2023/html/ecb.ebbox202301_06~df570a38fd.en.html #EconomicBulletin
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/eb202301.en.html
Panetta: By smoothing our policy rate hikes – that is, moving in small steps – we can ensure that we calibrate our policy stance more precisely.
This will allow us to return to our 2% inflation target without undue delay, while reducing the risk that we tighten too much
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Panetta: When we were normalising rates, the pace of adjustment was key.
But with rates now moving into restrictive territory, it is the extent and duration of monetary policy restriction that matters
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Panetta: As the energy shock abates and credit conditions tighten, the risks to the inflation outlook have become more balanced.
It will take time for this to be fully reflected in retail prices across the economy
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🧵 The energy shock and the reopening of the economy led to high inflation, says Executive Board member Fabio Panetta.
We have tightened our monetary policy to prevent inflation becoming entrenched and we now need a data-dependent approach
https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230216~a297a41feb.en.html
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Coming up from 10:00 CET: Executive Board member Fabio Panetta will speak about monetary policy after the energy shock at an event with the @CER_EU and @EUdelegationUK in London.
Follow the speech and Q&A live https://www.youtube.com/watch?v=cnQDuvuBt9E
RT @CER_EU: 📅 Thursday 16 February,
📍 London
Fabio Panetta on ‘Monetary policy after the energy shock’
Chaired by DeAnne Julius, Chatham House
Organised by @CER_EU, @EUdelegationUK & @ecb Representation in Lon…
How much do you know about Croatia’s economy? And what about the steps the country had to take to adopt the euro?
Our host @KatieRanger_ and economist Martin Bijsterbosch explore these topics in the latest episode of #TheECBPodcast.
Listen here https://pod.link/1481819425/episode/9ccba45f90d0697f698ef8b5bd3393e4
Introductory statement by Christine Lagarde, President of the ECB, at the plenary session of the European Parliament https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230215~a512d68d9f.en.html
Lagarde: On 1 January, we welcomed Croatia to the euro area – expanding our club to 20 countries. This shows that the euro is an attractive currency and once again reminds us that in Europe we are stronger together.
Lagarde: Eurozone growth slowed less than expected in Q4 2022. However, we expect activity to remain weak in the near term. Inflation decreased in January, mainly due to a drop in energy prices, but price pressures remain strong and underlying inflation is still high.
Lagarde: High inflation is having a big impact on every part of our economy and on people’s daily lives. Since July 2022 we have raised interest rates by 300 basis points and are determined to stay the course to ensure a timely return of inflation to our 2% medium-term target.
Live now: President @Lagarde attends the @europarl_en plenary session on the ECB Annual Report for 2021.
Follow the webcast here https://www.europarl.europa.eu/streaming/?event=20230215-0900-PLENARY
Coming up at 10:00 CET tomorrow: Executive Board member Fabio Panetta will speak about monetary policy after the energy shock at an event with the @CER_EU and @EUdelegationUK in London.
Follow the speech and Q&A live https://www.cer.eu/events/discussion-monetary-policy-after-energy-shock-fabio-panetta-member-executive-board-european
RT @CER_EU: 📅 Thursday 16 February,
📍 London
Fabio Panetta on ‘Monetary policy after the energy shock’
Chaired by DeAnne Julius, …
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
