European Central Bank (ECB)
Cross-border CBDC challenging to deliver, officials warn
But digital currency could tackle “extremely high” remittance costs, says IMF’s Tobias Adrian
PEPP to become ECB’s weapon of choice
Facing high but falling inflation, the governing council is expected to hold rates
A league table for central bank hawkishness
Steve Kamin runs the numbers to assess which central banks have raised rates most aggressively
Germany needs tighter fiscal policy, Nagel says
EU Stability and Growth Pact should have stricter fiscal rules, Bundesbank president argues
More rate hikes may be needed, says Bundesbank’s Nagel
German governor has a soft landing as his baseline scenario
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Will the ECB take its key rate past 4%?
French and Spanish governors say policy is working, but Nagel warns pace is too slow
ECB raises rates to all-time high of 4%
Lagarde says “solid majority” supported raise but says some members opposed it
ECB criticises Italy’s windfall tax on banks
Central bank warns measure could hamper monetary transmission and weaken lenders
ECB nominates Bundesbank’s Buch as new head of supervision
Governing council votes for German official over Bank of Spain deputy governor
Eurozone industrial activity likely to decline, analysts say
French and Spanish increase is unlikely to offset German contractions, observers argue
Eurozone inflation expectations remain stagnant
Consumers’ 12-month expectations remain unchanged at 3.4%
Jackson Hole in the wake of policy rules
Symposium heralds a shift to relying on incoming data and judgement, rather than rules or even formal models, to hit inflation targets, writes Barry Eichengreen
Eurozone soft landing depends on Phillips curve – Schnabel
Executive board member says evidence is hard to read, calling for “robust” policy-making
ECB paper explores best response to inefficient capital flows
Exchange rate pass-through is key to whether policy should tighten or loosen, authors find
Lagarde envisions new model for world of ‘shifts and breaks’
ECB chief predicts bigger supply shocks and relative price swings in future
ECB: from a supply to a demand-driven floor?
Eurozone’s central bank expected formally to abandon corridor in forthcoming operational framework review
Should the ECB worry about divergent inflation?
Economists say widening readings across eurozone show lingering effect of energy price shock
Italy’s government changes bank windfall tax proposal after outcry
Banking executives criticise plan’s design and say new proposals are still unclear
Currency round-up: Austrian leader calls for right to cash
US Mint continues quarters programme; Bangladesh adopts “clean note” policy; and more
Bundesbank cuts remuneration of government deposits to 0%
Measure could further reduce availability of high-quality collateral in the eurozone
European banks pass stress test’s 2023 adverse scenario
Tested banks had higher CET1 levels after adverse scenario than in 2021, EBA says
ECB raises rates again but Lagarde says pause is possible
Eurozone banks to receive zero interest on minimum reserves
ECB approaching end of tightening cycle, analysts say
Divisions on governing council are creating communications challenge