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
RT @NGFS_: Today, the #NGFS and the Financial Stability Board (@FinStbBoard) published a joint report outlining initial findings from climate scenario analyses undertaken by financial authorities to assess climate related financial risks.
Andrea Enria: fireside chat with Martin Arnold at the @DNB_NL Banking Seminar https://www.bankingsupervision.europa.eu/press/interviews/date/2022/html/ssm.in221115~bd4306961f.en.html
How is high inflation affecting lower-income groups? What are the risks for financial stability?
A pre-released feature from our Financial Stability Review looks at household income inequality in times of rising prices and interest rate hikes.
A resilient financial sector is essential in these times of high uncertainty, says Vice-President Luis de Guindos. To build on this resilience, we must focus on making the macroprudential toolkit more effective and implementing Basel III.
https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221114_1~666e64bcc4.en.html
Panetta: Macroeconomic policies should be designed to avoid unnecessarily heightening the risk that the contraction that seems increasingly likely in coming months becomes a severe and protracted one, which would scar the economy.
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Panetta: If we were too hasty and mistaken in concluding that supply shocks have durably depressed potential output, we may subject the economy to excessive tightening. For as long as inflation expectations remain anchored, monetary policy should be adjusted but not overreact
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🧵Monetary policy needs to be adjusted to ensure that inflation does not become entrenched, says Executive Board member Fabio Panetta. However, given the uncertainty we are facing, an aggressive tightening is not advisable.
https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221114~23b213922c.en.html
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Speech Philip R. Lane: The global economy - old trade-offs and new challenges (slides) https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221111_1~9148fddf64.en.pdf?1df47295b19fe2c0f2f68725c46ed1a9
Watch live today from 17:00 CET/11:00 EST: Chief Economist Philip R. Lane talks about old trade-offs and new challenges for the global economy at the @IMFNews Annual Research Conference #ARCPolak
https://www.youtube.com/watch?v=kl-wVN40PKI
RT @IMFLive: Watch a LIVE panel discussion about how the global economy got where it is now, the way forward + more. #ARCPolak. https://www.imf.org/redirect/?URL=$V&404https://www.imf.org/ARC
▶️ Tune …
Letter from the ECB President to Mr Eugen Jurzyca, MEP, on climate change https://www.ecb.europa.eu/pub/pdf/other/ecb.mepletter221111_jurzyca~de20453054.en.pdf?535a025a8979b151629d5120773dc481
Letter from the ECB President to Mr Markus Ferber, MEP, on climate change https://www.ecb.europa.eu/pub/pdf/other/ecb.mepletter221111_ferber_1~1feffc15f9.en.pdf
Panetta: The energy crisis marks a break in our growth model that will require a permanent response where public investment regains the necessary relevance in strengthening the domestic capital base and responding to shocks.
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Panetta: Investment at the European level makes sense when it can deliver more value than national investments can. A European fiscal capacity could contribute to financing European public goods, such as energy security, thereby increasing economic resilience and potential
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Panetta: Public investment has seen a marked decline in Europe. Net public investment in the euro area during the period 2011-19 was the lowest of the advanced economies, with the exception of Japan
2/4
🧵Europe needs to reinvest in its own future if it wants to keep control of its destiny, says Executive Board member Fabio Panetta. We should seek to enhance public investment in European public goods via a European fiscal capacity.
Full speech
[https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp221111~9dfd501542.en.html]
1/4
Correction: Heemskerk is of course spelled with a double-e.
There is no time for monetary policy to pause, Executive Board member @Isabel_Schnabel says @BankaSlovenije.
We will need to raise rates further, probably into restrictive territory, to bring inflation back to our target in a timely manner.
Watch here https://www.youtube.com/watch?v=kX5qDIT93g0
Economic Bulletin box: Carry-over effects and intra-quarter GDP growth – estimates based on monthly indicators https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_03~f3da6f6af8.en.html
Economic Bulletin box: Main findings from the ECB’s recent contacts with non-financial companies https://www.ecb.europa.eu/pub/economic-bulletin/focus/2022/html/ecb.ebbox202207_05~95b0d2ae4a.en.html
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
