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
🧵 Central bank digital currencies have potentially far-reaching implications for the monetary and financial system as a whole, says Executive Board member Fabio Panetta.
Full speech https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220408~980e39957b.en.html
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With our explainers we want to open central banking themes up for everyone. The simple texts, videos and infographics answer questions about topics such as monetary policy, price stability and governance.
Check them out here https://www.ecb.europa.eu/ecb/educational/explainers/html/index.en.html
Did you miss the @EU_Commission and @ecb joint conference on European financial integration?
Experts discussed European financial integration, upcoming challenges and the pandemic’s impact on financial sector.
Watch again here https://www.youtube.com/watch?v=yGOdcIbzzCA&t=229s
RT @FrankElderson: 🧵 The latest IPCC report is a clear reminder to us all that it is #TimeToActNow.
Unfortunately, green financing levels are still well below what is needed to ensure global temperatures do not rise by more than 1.5°C
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RT @Lagarde: This morning I tested positive for COVID-19. I am vaccinated and boosted, and my symptoms are thankfully reasonably mild. I will work from home in Frankfurt until I am fully recovered. There is no impact on the ECB’s operations.
Panetta: Such second-round effects may not materialise given the credibility of our commitment to price stability and concerns over job security.
For now, the uncertainty we face continues to require careful and gradual steps in adjusting monetary policy
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Panetta: We would not hesitate to tighten policy if supply shocks were to feed into domestic inflation through de-anchored inflation expectations and accelerating wage growth inconsistent with our inflation target and productivity gains.
But we see no evidence of this today
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Panetta: Faced with an unprecedented sequence of supply shocks and a war that could well bring quarter-on-quarter growth rates into negative territory, a coherent fiscal and monetary policy strategy would also alleviate the cost of reducing inflation
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Panetta: A stronger European fiscal capacity would allow joint financing of such investments. By enabling countries to counter systemic shocks, it would make it easier for fiscal rules to focus on member states’ ability to respond countercyclically to country-specific shocks
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Panetta: The new challenges we are facing remind us of the inception of the European project, when supply management and economic unification were critical to Europe’s security and prosperity. The investment needs are massive but will support EU efficiency and resilience
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🧵If we are to strengthen our defences, reduce our energy dependence and build a more robust economic base, we will need to take economic integration to the next stage, says Executive Board member Fabio Panetta.
Full speech https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220406_1~643fc94dab.en.html
1/6
Watch live today from 12:45 CET: Chief Economist Philip R. Lane participates in a @delphi_forum panel discussion on the current inflation dynamics and the implications for monetary and fiscal policy https://delphiforum.gr/live/1736
RT @delphi_forum: Delphi Economic Forum VII is live! Share moments of your favourite discussions using #delphiforum
Non-banks continue to grow, in particular investment and equity funds.
Read our latest report on the euro area’s financial integration and structure to learn more https://www.ecb.europa.eu/pub/pdf/fie/ecb.fie202204~4c4f5f572f.en.pdf
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The NextGenerationEU plan encourages cross-border risk sharing. Together with the capital markets union, it is an opportunity to enhance the integration of public and private equity markets to make our economies greener and more digital
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The economic consequences of the pandemic varied across different euro area countries. The crisis again highlighted the need for better-integrated capital markets to promote the sharing of risks across borders
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The financial fragmentation experienced at the start of the pandemic was short-lived, mainly due to fiscal and monetary support. After being brought back to pre-pandemic levels, financial integration continued to increase, but still needs monitoring
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🧵 Every two years, we look at how the euro area’s financial integration and structure are doing, and at the main changes in financial sector policies.
See our latest findings below ⬇️ or read the full report on our website https://www.ecb.europa.eu/pub/pdf/fie/ecb.fie202204~4c4f5f572f.en.pdf
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De Guindos: Pushing ahead with initiatives to strengthen the capital market and the banking union, such as progress towards a European deposit insurance scheme, will make Europe more resilient in the face of future crises and allow us to respond quickly
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De Guindos: Recent events have reaffirmed the importance of financial integration. It increases the resilience of our economy and financial sector and improves our ability to take credible actions through close collaboration in EU financial decision-making
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🧵 European integration has come a long way, but we have not yet reached the finish line, says Vice-President Luis de Guindos. Current challenges call for decisive joint action to strengthen the financial system and the Economic and Monetary Union https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220406~d3d0ce4b13.en.html?utm_source=ecb_Twitter&utm_campaign=220406_speech_LDG
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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
