Eurozone
Inflation in Baltics set to remain highest in euro area
Charts highlight divergence between eurozone members
Spain’s De Cos calls for greater ambition in EU fiscal reforms
Redesign of fiscal rules must be supported by wider reform of financial governance, governor says
ECB flags ‘persistent concerns’ over bank governance
Supervisors perform first assessment of “excessive leverage” and demand action from four banks
ECB estimates trillions of euros at risk from climate change
Central bank publishes sustainable finance, carbon emissions and physical risk indicators
Regulators should treat crypto trading as gambling – Panetta
Self-destruction of crypto sector is not assured, says ECB official
Missed inflation target has ‘sizeable’ fiscal impact – paper
Persistent undershooting by ECB caused problems for countries with long-duration debt, authors say
ECB adjusts risk controls with eye on collateral availability
First assessment of climate risk in collateral framework concludes no climate-related changes needed
European rates: Norway expects more tightening next year
Switzerland raises rates 50bp and Denmark raises rates in line with ECB
Italy to allow larger cash payments despite central bank objections
Official warns move could encourage illicit activity
Housing plays growing role in transmitting ECB policy, paper finds
Labour earnings still most important means of transmission, researchers say
The ECB’s collateral conundrum
A lack of high-quality collateral in the eurozone has resulted in money market rates lagging ECB policy rates, hampering monetary policy transmission
Eurozone inflation falls for first time in 17 months, estimates say
Eurostat figures show inflation dropping in most countries, including Germany
Knot and Schnabel strike hawkish tone on ECB policy
Portuguese governor calls for an end to 75bp hikes; Lagarde says inflation may still rise
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
ECB sets 2024 climate change deadline for big eurozone banks
Most ECB-supervised banks failing to implement climate change plans, Elderson says
DNB advises pension funds to boost liquidity – report
Following UK crisis, Dutch central bank asks funds to monitor stress signals and review liquidity rules
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
ECB raises rates on government deposits to ease transition
Governments should make “alternative arrangements”, ECB says, after pandemic saw deposits rise
Digital euro should co-exist with commercial bank money, BdF official says
Nicolas de Labarre highlights further details of the CBDC project
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
Glapiński accuses Germany of wanting to redraw land borders
Polish governor warns on plans for EU super-state as German foreign office calls claims “absurd”
Is money growth really the main inflation culprit?
Jakob de Haan and Jan-Egbert Sturm take a closer look at inflation in the eurozone and Switzerland
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
Nagel lays out conditions for ECB anti-fragmentation instrument
Bundesbank president says it should be temporary and only used in “exceptional circumstances”