The European Central Bank (ECB) has indicated that it will not pre-commit to a specific path for interest rates, citing high levels of uncertainty and elevated price pressures. ECB Chief Economist Philip Lane emphasized that rates will remain sufficiently restrictive as long as necessary to ensure full disinflation. Lane noted that while disinflation has been faster than expected, inflationary pressures, particularly in services, remain a significant risk. The ECB will continue to adjust rates based on incoming data, with a cautious approach to potential rate cuts. Lane mentioned that activity is recovering, although not sufficiently in segments like construction. ECB Vice President Luis de Guindos echoed these sentiments, highlighting the need for prudence due to the substantial uncertainty and the ongoing wage growth. Governing Council members Martins Kazaks and Constantinos Patsalides also stressed that future rate decisions will be data-driven. The ECB remains confident that inflation will converge to 2% despite the bumpy road ahead.
European Central Bank's Chief Economist Philip Lane suggests that interest rates could remain above average for an extended period, indicating a cautious approach to monetary policy. #ECB #interestrates #economy
ECB'S VASLE: WAGE MOMENTUM IS STILL RELATIVELY STRONG.
European Central Bank's chief economist, Philip Lane, warns of potential slowdown in the disinflation process. #ECB #economy #inflation
ECB'S VASLE: THE ECB WILL MAKE DATA DEPENDENT DECISIONS.
ECB'S VASLE: THERE'S RISK THAT THE DISINFLATION PROCESS COULD SLOW DOWN.
ECB’s Patsalides says next steps for interest rates will be data driven https://t.co/vm0eVkynpf https://t.co/shSFelzKiE
💡 ECB’s Kazāks: Sharp Rate Cuts Unlikely in the Near Future - @EconoStream on https://t.co/orvmA6WYlS Full Story → https://t.co/ZuSZxxOeCd
⚠️ ECB'S DE GUINDOS: ECB STILL IN RESTRICTIVE TERRITORY ON RATES - MNI
ECB'S DE GUINDOS: WAGE CATCHUP PROCESS WILL BE FINALIZED IN NEXT QUARTER.
ECB’s de Guindos: No Determined Rate Path For The Next 6-Months - Expects Inflation Over Next 6-7 Months To Be Bumpy
ECB'S DE GUINDOS: THERE IS A LOT OF CONFIDENCE THAT INFLATION WILL CONVERGE TO 2%.
ECB'S DE GUINDOS: INFLATION OVER THE NEXT 6-7 MONTHS WILL BE BUMPY.
ECB’S GUINDOS: SERVICES INFLATION’S THE MAIN RISK FACTOR FOR OVERALL PRICE GROWTH - MNI ECB’S GUINDOS: LEVEL OF UNCERTAINTY IS HUGE - MNI ECB’S GUINDOS: NEED TO MOVE VERY SLOWLY WITH LOTS OF PRUDENCE - MNI
⚠️ ECB'S DE GUINDOS: **SERVICES INFLATION IS THE MAIN RISK FACTOR FOR OVERALL PRICE GROWTH - MNI ** LEVEL OF UNCERTAINTY IS HUGE - MNI **NEED TO MOVE VERY SLOWLY WITH LOTS OF PRUDENCE - MNI
ECB'S DE GUINDOS: WE DO NOT HAVE A DETERMINED RATE PATH FOR THE NEXT 6 MONTHS.
ECB'S DE GUINDOS: NEW WAGE DATA IN LINE WITH ECB FORECAST SCENARIO.
🇪🇺 *#ECB VICE PRESIDENT GUINDOS SPEAKS AT MNI CONFERENCE - BBG *GUINDOS: DISINFLATIONARY PROCESS HAS BEEN QUITE PROFOUND *GUINDOS: ALL MEASURES OF UNDERLYING INFLATION GOING SAME WAY *GUINDOS: UNDERSTAND SURPRISE CAUSED BY CUT AND HIGHER FORECASTS *GUINDOS: INFLATION FORECASTS…
ECB'S DE GUINDOS: SERVICES INFLATION IS THE MAIN RISK FACTOR FOR OVERALL PRICE GROWTH.
ECB'S DE GUINDOS: ALL MEASURES OF UNDERLYING INFLATION GOING SAME WAY.
ECB'S DE GUINDOS: THE DISINFLATIONARY PROCESS HAS BEEN QUITE PROFOUND.
ECB'S SCHNABEL: ECONOMY IS RECOVERING GRADUALLY
🇪🇺 #ECB GOVERNING COUNCIL MEMBER PATSALIDES SPEAKS IN NICOSIA - BBG *ECB'S PATSALIDES: NEXT STEPS WILL BE DATA DRIVEN *ECB'S SCHNABEL: ECONOMY IS RECOVERING GRADUALLY - BBG *ECB'S SCHNABEL: `LAST MILE' OF DISINFLATION IS PROVING BUMPY *ECB'S SCHNABEL: SERVICES INFLATION PROVES…
ECB'S SCHNABEL: THERE ARE THE FIRST INDICATIONS OF EASING WAGE GROWTH.
ECB'S PATSALIDES: THE NEXT STEPS WILL BE DATA-DRIVEN.
ECB should lower interest rates step by step, Kazaks says https://t.co/5dK7YvUK8O via @aaroneglitis https://t.co/MPmcTxUbN6
🇪🇺 #ECB Should Lower Interest Rates Step by Step, Kazaks Tells LTV - Bloomberg https://t.co/y2H9HZl1XX
ECB'S KAZAKS SEES HOPE OF FURTHER RATE CUTS THIS YEAR
The ECB must make sure that inflation returns to target, following its “faster-than-expected” slowdown so far, Chief Economist Philip Lane says https://t.co/4rSqVZOSs2
ECB can cut further if there’s progress on inflation, Lane says https://t.co/YoqefQLpXJ https://t.co/xBziHhcyPX
ECB’s Philip Lane signals need for caution on further rate cuts https://t.co/4OEUY4DYO6
ECB should wait with next rate move until uncertainty recedes, Lane says https://t.co/Hr1DXTb3zh https://t.co/NJHrrhPqcT
ECB needs to keep holding back economy, Lane says - Reuters https://t.co/L9lyIDmdEd
ECB’S LANE: MORE CUTS ARE POSSIBLE IF ENOUGH PROGRESS TO 2% IS MADE.
🔵 ECB NEEDS TO KEEP HOLDING BACK ECONOMY, LANE SAYS Full Story → https://t.co/p2dLABbnBr Euro zone wage growth is set to slow next year but inflationary pressures are still strong enough for the European Central Bank to hold back economic growth, ECB chief economist Philip… https://t.co/HbswyExgUa
ECB's Lane: We will be agile on interest rates https://t.co/gJFf6XKOqn
The European Central Bank intends to adjust rates in response to incoming data, according to comments made by ECB Chief Economist Philip Lane.
ECB’S LANE: ECB WILL BE AGILE ON RATES AS DATA COMES IN.
ECB’S LANE: DISINFLATION OVERALL HAS BEEN FASTER THAN EXPECTED.
ECB's Lane: We are not pre-committing to a particular rate path https://t.co/fCghOuQSHy
🇪🇺 #ECB CHIEF ECONOMIST PHILIP LANE SPEAKS IN DUBLIN - BBG *ECB'S LANE: NOT PRE-COMMITTING TO A PARTICULAR RATE PATH *LANE: RATES TO STAY SUFFICIENTLY RESTRICTIVE AS LONG AS NEEDED *LANE: ECB MUST CAREFULLY ANALYSE, INTERPRET INCOMING DATA https://t.co/G7UGzU8sd7 https://t.co/51KAnn2VCT
ECB’S LANE: WAGE GROWTH IS STILL ELEVATED.
ECB’S LANE: THE CURRENT ECB POLICY TASK IS TO ENSURE FULL DISINFLATION.
ECB’S LANE: ACTIVITY IS RECOVERING, ALTHOUGH NOT SUFFICIENTLY IN THOSE SEGMENTS OF DEMAND THAT ARE MOST SENSITIVE TO INTEREST RATES E.G. CONSTRUCTION.
ECB’S LANE: THERE IS A HIGH LEVEL OF UNCERTAINTY AND THE STILL-ELEVATED PRICE PRESSURES THAT ARE EVIDENT IN THE INDICATORS FOR DOMESTIC INFLATION.
ECB’S LANE: RATES ARE TO STAY SUFFICIENTLY RESTRICTIVE AS LONG AS REQUIRED.
ECB'S LANE: WE ARE NOT PRE-COMMITTING TO A PARTICULAR RATE PATH
ECB'S LANE: WE'RE NOT PRE-COMMITTING TO A PARTICULAR RATE PATH.
ECB'S LANE: IGH LEVEL OF UNCERTAINTY AND THE STILL-ELEVATED PRICE PRESSURES THAT ARE EVIDENT IN THE INDICATORS FOR DOMESTIC INFLATION
💡 ECB’s Rehn: Not Pre-Committing to Any Rate Path - @EconoStream on https://t.co/orvmA6Wqwk Full Story → https://t.co/JmhmyA91je
ECB won’t pre-commit to any path for interest rates, Rehn says https://t.co/IS1DjDANGD via @pohjanka https://t.co/D72p1y2OH2
⚠️ ECB'S REHN: WE KNOW THAT THE INFLATION PATH IS A BUMPY ROAD BUT WE SEE STABILISATION AHEAD