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ECB’s Lane: Inflation Outlook More Benign as ECB Assesses Two-Sided Risks

ECB’s Lane: Inflation Outlook More Benign as ECB Assesses Two-Sided Risks

By David Barwick – FRANKFURT (Econostream) – European Central Bank Chief Economist Philip Lane on Monday said the euro area’s inflation outlook had become “much more benign” and that monetary policy decisions would depend on how upside and downside risks to price stability evolve.

6 October 2025

Exclusives

Exclusive: Spanish Treasury Rules Out Further Bond Syndications in 2025

Exclusive: Spanish Treasury Rules Out Further Bond Syndications in 2025

By Marta Vilar – MADRID (Econostream) – Spain will not proceed with the syndicated bond issuance that had been expected late in 2025, diverging from its standard practice of four such operations a year, according to Mercedes Abascal, Deputy Director General of Public Debt Management at the Spanish Treasury.

30 September 2025

Insights

ECB Insight: Lagarde on Knot – A Portrait of the Successor, and of Herself

ECB Insight: Lagarde on Knot – A Portrait of the Successor, and of Herself

By David Barwick – FRANKFURT (Econostream) – European Central Bank President Christine Lagarde may have spoken off the cuff when she described Klaas Knot as fully qualified to succeed her, but her words carry political weight that will not go unnoticed in euro area circles: her assessment of the former De Nederlandsche Bank chief as someone who “could, absolutely” lead the ECB is as close as an incumbent can come to signaling approval in such a politically charged context.

6 October 2025
ECB Insight: Cipollone’s Hawkish-Tinged Optimism Marks a Shift in Tone

ECB Insight: Cipollone’s Hawkish-Tinged Optimism Marks a Shift in Tone

By David Barwick – FRANKFURT (Econostream) – European Central Bank Executive Board member Piero Cipollone's latest message is as striking for its tone as for its content. The Italian policymaker, generally seen as part of the Governing Council’s more dovish contingent, struck an unexpectedly upbeat note on growth and offered no hint of encouragement to those hoping for easier policy.

24 September 2025
ECB Insight: No Fault Line Yet, Just a Few Faint Cracks

ECB Insight: No Fault Line Yet, Just a Few Faint Cracks

By David Barwick – FRANKFURT (Econostream) – The deluge of recent European Central Bank communication suggests a Governing Council still largely comfortable with its current stance, even as a few members leave the door ajar for more easing. The pattern emerging from speeches and interviews over the past days is less about fundamentally new perspectives than about positioning, nuance and subtle divergences on risks.

23 September 2025

ECB Tone Meter

Entire Governing Council

26 Members
Very Dovish
Very Hawkish

Executive Board

6 Members
Very Dovish
Very Hawkish

Evolution

Governing Council vs. Executive Board

As of 2 October 2025

ECB Tone Meter

Meeting Bias

ECB Governing Council Meeting