Recent accounts from the European Central Bank (ECB) reveal a confident stance on the effectiveness of its monetary policy, highlighting solid evidence of its transmission to financial markets, financing conditions, and credit conditions. Officials noted the necessity for further progress in the disinflationary process and emphasized the need for continuity, caution, and patience in policy implementation. ECB President Lagarde commented on the latest euro-area labor compensation numbers as reassuring, pointing out that the fourth quarter wage numbers were encouraging and stressed the importance of the first quarter numbers of 2024 for assessing the sustainability of disinflation.
ECB’s Lagarde says latest wage numbers are encouraging, watching for 1Q data https://t.co/djigEekpkf via @sanne_wass @KowalczeKamil @europressos https://t.co/GEIBlHB4uc
The latest euro-area labor compensation numbers are reassuring, though additional figures due for the start of 2024 also will provide valuable insight to the ECB, President Lagarde says https://t.co/Dt69FaTrvm
ECB's Lagarde: Q4 Wage Numbers Encouraging - Governing Council Needs To Be More Confident That Disinflation Sustainable - Q1 Numbers, If They Continue To Be Encouraging, Will Be Important
🔴 ECB'S PRESIDENT LAGARDE: 1Q NUMBERS, IF THEY CONTINUE TO BE PROMISING, WILL BE IMPORTANT.
🔴 ECB'S PRESIDENT LAGARDE: WE NEED BE CONVINCED THAT DISINFLATION SUSTAINABLE.
🔴 ECB'S PRESIDENT LAGARDE: Q4 WAGE NUMBERS ARE ENCOURAGING.
🔴 ECB ACCOUNTS: MEMBERS SIGNALED THAT CONTINUITY, CAUTION AND PATIENCE WERE STILL NEEDED.
🔴 ECB ACCOUNTS: THERE WAS SOLID EVIDENCE THAT MONETARY POLICY WAS BEING TRANSMITTED TO FINANCIAL MARKETS, FINANCING CONDITIONS AND CREDIT CONDITIONS.
🔴 ECB ACCOUNTS: OFFICIALS WERE CONFIDENT THAT MONETARY POLICY WAS WORKING.
🔴 ECB ACCOUNTS: IT WAS AFFIRMED THAT FURTHER PROGRESS NEEDED TO BE MADE IN THE DISINFLATIONARY PROCESS.
🔴 ECB ACCOUNTS: WE ARE CONFIDENT THAT MONETARY POLICY WAS WORKING.
🔴 ECB ACCOUNTS: THE LATEST DEVELOPMENTS IN ECONOMIC ACTIVITY AND INFLATION AS BEING CONSISTENT WITH THE CURRENT MONETARY POLICY STANCE.