Philip Lane
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
Lane’s calls to investors stir controversy ahead of key ECB meeting
Chief economist’s private discussions with investors after policy meetings come under scrutiny
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Eurogroup nominates Elderson to ECB board
European Union’s governments and parliament must now consider DNB official’s appointment
Is there a rift in the ECB governing council?
Mixed messages from Christine Lagarde were followed by sharp divergence among board members
ECB has ‘no room for complacency’, Lane says
Chief economist stresses ECB is ready to expand stimulus after Lagarde appeared to downplay risks
ECB ready to adjust its policy instruments – Philip Lane
MAS chairman warns that post-pandemic labour markets will need new public policies
Lane stresses inflation will determine ECB’s PEPP purchases
Lower inflation outlook could mean the programme will remain longer than anticipated
IMF research highlights limits of exchange rate flexibility
New dataset sheds light on role of dominant-currency invoicing for exchange rate dynamics
Lane warns eurozone faces ‘substantially negative’ price pressures
Tighter financial conditions and falling inflation called for expanded QE, says ECB chief economist
ECB expected to sharply increase PEPP purchases
Central bank could start reinvesting PEPP securities and increase supranationals’ share
ECB research finds Phillips curve still matters
Underlying relations are complicated, but slack and expectations still drive prices, economists say
ECB minutes reveal resistance to lifting self-imposed limits on PEPP
Some governing council members did not deem new programme necessary, proposing to use APP or OMT
Inflation targets back in the spotlight
Monetary policy can do little to offset the impact of Covid-19
ECB unveils plan for its strategy review
Eurosystem will host “listening” events with general public, academia and civil society organisations
Should the ECB add owner-occupied housing costs to its inflation measure?
Yves Mersch argues broader measure of housing costs would give more realistic inflation picture
Lagarde awards Schnabel key policy role in renewed ECB board
Panetta leads market infrastructure and payments, banknotes and international relations
Schnabel and Panetta appointed ECB executive board members
The final distribution of responsibilities in January will determine the new members’ portfolios
The challenges facing Christine Lagarde
The new ECB president will need to focus on a successful review of the ECB’s monetary and communications policy, while encouraging fiscal stimulus and structural reform
Was Draghi one of the great central bankers?
A look back at how Mario Draghi confronted the financial crisis and existential concerns about the euro
ECB governing council members disagreed over QE, minutes show
Members also differed over staff assessments of eurozone, but “large majority” backed rates move
BIS studies highlight limits to unconventional policy
Policies seen as broadly effective, but reports warn of spillovers and other unintended effects if the policies are used too much and for too long
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Irish officials increase criticism of incoming governor
Media reports that former governors and ECB all raised concerns over Makhlouf’s appointment