European Central Bank (ECB)
Inflation challenges ECB’s normalisation plans
Central bank expected to confirm end of PEPP purchases on December 16
ECB’s de Guindos tests positive for Covid-19
Vice-president has “very mild” symptoms and has not been in “close contact” with Christine Lagarde
People: Arce to lead ECB economics directorate
SNB deputy to retire; Vanuatu names new deputy; Glenn Stevens to chair Macquarie; and more
ECB to choose new euro banknote designs by 2024
Banknote designs will be chosen by governing council, but public input will be vital
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
Eurozone officials call for major fiscal changes
Stability and Growth Pact is hampering policy, speakers at ECB conference argue
Eurozone unemployment declines to 7.3%
Youth unemployment rate also falls but is much higher at 15.9%
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Eurozone QE helped increase R&D spending, paper finds
Firms that had bonds bought by the ECB increased R&D spending by 9% on average
Eurozone inflation hits record high of 4.9%
ECB expected to clarify the future of its stimulus programme on December 16
German inflation reaches 5.2% in November
ECB’s Schnabel says inflation will peak this month and will decline towards 2% target in 2022
Book notes: Monetary policy in times of crisis, by Massimo Rostagno et al
A mass of intellectual effort gives rare insights into the ECB’s inner working, but fails to fully address questions about who really controls inflation
Fed's monetary policy ‘spillbacks’ have significant effects – ECB paper
Researchers estimate how impact of Fed policy on foreign economies in turn affects US
Eurosystem approves new payments oversight framework
‘Pisa’ principles will cover stablecoins, e-wallets and other payments arrangements, ECB says
ECB says banks are falling short on climate risk
Actions are “too slow” and no supervised bank is “close” to meeting expectations, central bank says
Weidmann clashes with Lagarde on policy outlook
Bundesbank president said policy may have to tighten just after Lagarde said it would likely stay loose
Lagarde says ECB policy is likely to stay loose in 2022
ECB president says eurozone must not “rush into a premature tightening”
People: RBNZ chief economist to leave after 25 years
ECB appoints lead for digital euro project and new director for banknote department
ECB paper examines exchange rates and household consumption
Exchange rate elasticity of household consumption driven largely by industrial goods - researchers
Should ESG reporting be made mandatory?
As concern around the impact of climate change on businesses grows, many regulators have announced their intentions to include ESG requirements in reporting frameworks
ECB warns of ‘pockets of exuberance’ in credit, asset and housing markets
High inflation could have “longer-lasting” effects and weigh on the recovery, says financial stability review
Fed and ECB officials point to different policy directions
US officials see a rate hike in 2022 as increasingly likely, while eurozone governors rule that out
EU should demand banks set climate transition plans – Elderson
Officials acknowledge climate risk has become central topic, but say most institutions fail to meet supervisory requirements
Lane makes case that inflation surge is transitory
ECB chief economist stresses weak mid-term inflation dynamics in the eurozone