- Monday, 26 February 2018
- News
ECB's Draghi Says Patience Needed on Monetary Policy
European Central Bank President Mario Draghi said Monday that the euro area economy is expanding robustly, but inflation is yet to show sustained signs of moving higher so patience with regard to monetary policy is still needed. In a statement to the European Parliament, Draghi said that growth is stronger than previously expected, but inflation has yet to show more convincing signs of a sustained upward adjustment. "While the strong momentum of the euro area economy has clearly strengthened our confidence in the inflation outlook, patience and persistence with regard to monetary policy is still needed for inflation to sustainably return to levels of below, but close to, 2%,” Draghi said. He said the relationship between growth and inflation remains largely intact, even if it was temporarily weakened.
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- Monday, 19 February 2018
- News
Spanish Finance Minister Backed for Leading ECB Job
Finance ministers from the 19-country eurozone on Monday endorsed Spain's Luis de Guindos for the coveted post of European Central Bank vice president, after Ireland withdrew the only other candidate. European Union leaders are expected to anoint de Guindos at a summit on March 22-23, after seeking the opinion of EU lawmakers and the ECB, which oversees the euro currency. Once that is done, de Guindos will replace Vitor Constancio on June 1 and serve a non-renewable eight-year term.
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- Monday, 29 January 2018
- News
ECB's Praet Urges Stimulus Persistence With Inflation Goal Unmet
European Central Bank chief economist Peter Praet pushed back against the idea that the institution is close to deciding to end its bond-buying program, saying there’s still a way to go before inflation is back on track. Praet said the ECB is “some distance” from meeting the three criteria that would show asset purchases have done their job. His comments come amid differences within the Governing Council over how fast to move toward the end of crisis-era stimulus, with Dutch central banker Klaas Knot saying on Sunday that the program has done all that can realistically be expected and should end as soon as possible after September.
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- Thursday, 25 January 2018
- News
Draghi says no rate hike in 2018
Draghi exhibited higher confidence that the ECB would reach its inflation target, yet was extremely cautious in signalling any policy changes ahead. His reluctance to call recent FX moves excessive was still what markets paid most attention to. Further confidence towards reaching the target, policy changes still remote The ECB continued to sound optimistic about the economy. The statement said the strong cyclical momentum, the ongoing reduction of economic slack and increasing capacity utilisation strengthen further our confidence that inflation will converge towards our inflation aim of below, but close to, 2%.
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