Tag: Governing Council

ECB on Thursday: waiting and watching

January 10, 2012 11:25 am by Ralph Atkins

After cutting some dash at his first two interest rate-setting meetings as European Central Bank president, Mario Draghi will probably show a more cautious side on Thursday. The ECB’s governing council, gathering for the first time in 2012, is expected to leave the bank’s main interest rate unchanged at 1 per cent. After a tumultuous first few months under Mr Draghi the ECB appears to be in wait-and-see mode, at least for now.

Continue reading: “ECB on Thursday: waiting and watching”

Tags: executive board, Governing Council, mario draghi
Posted in European Central Bank | Permalink

Draghi’s different interest rate style

December 9, 2011 3:02 pm by Ralph Atkins

Thursday’s European Central Bank quarter percentage point rate cut was overshadowed by events in Brussels and the additional extraordinary liquidity help the ECB announced for distressed European banks. But it marked an important change of style at the ECB under Mario Draghi, its president since November 1.

Continue reading: “Draghi’s different interest rate style”

Tags: Governing Council, mario draghi
Posted in European Central Bank | Permalink

The week ahead in central banking

September 30, 2011 1:42 pm by Claire Jones

Our week ahead email will help you to track the most important events in the central banking world. To see all of our emails and alerts visit www.ft.com/nbe

Both the European Central Bank and the Bank of England will vote on monetary policy on Thursday.

The Monetary Policy Committee decision is out at noon local time (11.00 GMT). According to a Reuters poll, most expect the Bank to hold rates and maintain the stock of asset purchases at £200bn. However, a significant minority predict more QE, with most of these believing that £50bn is the amount that the MPC is most likely to plump for.

Though those expecting more QE in October are in the minority, the bulk of analysts do believe the Bank will expand its asset purchases at some point in the near future, with November considered the most likely option. The Bank also publishes the minutes of its FPC meeting on Monday at 09.30 local time (08.30 GMT), which may shed some light on the rather ambiguous statement that came out this week.

Continue reading: “The week ahead in central banking”

Tags: ben bernanke, Financial Stability Board, Financial Stability Oversight Council, Governing Council, Jean-Claude Trichet, monetary policy committee, tim geithner
Posted in Bank of England, Bank of Japan, European Central Bank, Federal Reserve, National Bank of Poland, Reserve Bank of Australia | Permalink

ECB watching (part I), still a hawkish side?

September 7, 2011 3:20 pm by Ralph Atkins

What to watch out for after Thursday’s European Central Bank governing council meeting? Jean-Claude Trichet, president, hinted at a re-think of its interest rate strategy when he told the European Parliament last week that medium term inflation risks were “under study”. That encouraged speculation that he would drop references to “upside risks” – and allow the ECB to keep its main policy rate on hold, or even consider cuts.

But the ECB may not drop the reference to “upside risks” completely. Past experience suggests the ECB keeps a hawkish bias until the very last moment. Consider the language it used in late 2008.

Continue reading: “ECB watching (part I), still a hawkish side?”

Tags: Governing Council
Posted in European Central Bank | Permalink