It was a pleasure to join @mickbroecker.bsky.social & his colleagues in the #TableToday podcast. We covered a lot of ground: monetary policy and inflation, the impact of tariffs, the emergence of a new European growth narrative, and fiscal challenges, with the following key messages. 1/8

Table.Briefings@table.media · last yr.

Kann Europa der Gewinner des Handelskriegs werden? Im Gespräch mit @mickbroecker.bsky.social spricht #EZB-Direktoriumsmitglied @isabelschnabel.bsky.social von einem „neuen europäischen Wachstumsnarrativ“. Wie sie das deutsche Sondervermögen bewertet, hören Sie hier 👉 buff.ly/NwQAo9A

In a recent #ECBblog post, jointly with our Heads of Market Operations, Imène Rahmouni-Rousseau, we take stock of the implementation of the pandemic emergency purchase programme (PEPP) after we ended reinvestment at the end of 2024. 1/6

European Central Bank@ecb.europa.eu · last yr.

In 2024, reinvestments under the pandemic emergency purchase programme came to an end. In a new blog post, Imène Rahmouni-Rousseau and @isabelschnabel.bsky.social revisit the programme’s implementation in the light of newly published data. Read #TheECBBlog www.ecb.europa.eu/press/blog/d...

It was a great honour and pleasure to deliver this year’s #MaisLecture at @bayesbschool.bsky.social @citystgeorges.bsky.social in which I argued that financial literacy matters for monetary policy transmission. This is why central banks have increased their efforts to foster financial literacy. 1/22

European Central Bank@ecb.europa.eu · last yr.

Financial literacy makes households more responsive to interest rates, fosters risk-taking and affects inflation expectations, says Executive Board member @isabelschnabel.bsky.social. This strengthens monetary transmission, making our policies more effective. Read her speech europa.eu/!mnVk9Q

Last year we announced our new #OperationalFramework. In an @ecb.europa.eu blog post, the Chair of the Supervisory Board Claudia Buch and I discuss the role that central bank operations are to play in banks' liquidity management under the operational framework. 1/7 www.ecb.europa.eu/press/blog/d...

Managing liquidity in a changing environment

The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purch...

ecb.europa.eu

Today I had another exchange with German-speaking economists on the challenges facing the German and euro area economy and what this implies for monetary policy @ecb.europa.eu. One focus was how to make sure that the German packages for defence and infrastructure will become a success. 1/3

Good news for researchers - don't miss out! We just launched a pilot project @ecb.europa.eu to share anonymised data on bank balance sheets and interest rates for loans and deposits in the euro area. 1/2 www.ecb.europa.eu/press/pr/dat...

Happy Women's Day! On this occasion I gave an interview to Wochentaz (today they call themselves frauentaz 😀), this time not related to monetary policy, but about women in general and me in particular. 1/2

Interview mit wochentaz

Die Europäische Zentralbank (EZB) ist die Zentralbank der Mitgliedstaaten der Europäischen Union, die den Euro eingeführt haben. Unsere vorrangige Aufgabe ist es, Preisstabilität im Euroraum zu gewähr...

ecb.europa.eu

European Central Bank@ecb.europa.eu · last yr.

Women need to engage more with financial topics, Executive Board member @isabelschnabel.bsky.social tells @taz.de. Women in finance face barriers, but institutions like the ECB can help alleviate them. We stand firmly behind our diversity strategy. www.ecb.europa.eu/press/inter/...

Yesterday I delivered a speech with the title “No longer convenient? Safe asset abundance and r*” at the @bankofengland.bsky.social's #2025BEARconference. Let me summarise the main messages in a 🧵. 1/16

European Central Bank@ecb.europa.eu · last yr.

Moving from a global savings to a global bond glut is putting upward pressure on the real equilibrium rate, says Executive Board member @isabelschnabel.bsky.social. Monetary policy may be less restrictive and balance sheet policies less effective than thought. www.ecb.europa.eu/press/key/da...

In my interview with @financialtimes.com published today I explained my current thinking about the @ecb.europa.eu ’s monetary policy and gave some personal reflections on the upcoming update of our monetary policy strategy. Let me briefly summarise the main points in a 🧵. 1/16

European Central Bank@ecb.europa.eu · last yr.

As we can no longer be confident that our monetary policy is restrictive, the direction of travel is less clear, Executive Board member @isabelschnabel.bsky.social tells @financialtimes.com. We are nearing the point where we may need to pause or halt our rate cuts. www.ecb.europa.eu/press/inter/...

Yesterday I joined an interesting discussion in Nuremberg on how to make Germany and Europe "fit for future". In my introductory remarks, I stressed the structural factors that dampen productivity growth in the euro area, posing challenges for the future. 1/4

European Central Bank@ecb.europa.eu · last yr.

Coming up today at 18:00 CET: Executive Board member @isabelschnabel.bsky.social joins a panel discussion on economic reforms for Germany and Europe. The event is organised by the Institute for Employment research. Watch live (in German) www.youtube.com/live/HdUp74m...

If you are a PhD student in economics or finance, please make sure to apply! This is an exceptional event with insightful discussions at a beautiful place and you will have the chance to promote your work in front of a distinguished audience. So don't hesitate! #Sintra #ECBforum #YoungEconomistPrize

European Central Bank@ecb.europa.eu · last yr.

Are you a PhD student studying economics and finance? Do you want to present your research to top academics and policymakers and stand the chance to win €10,000 at this year’s #ECBForum on Central Banking? Apply to the #YoungEconomistPrize by 12 February www.ecb.europa.eu/press/confer...

Many #ECB watchers have waited for this article. Chart A shows the huge model uncertainty surrounding the estimates. Adding parameter and filter uncertainty, data revisions and considering all models (not just those available for Q4 2024), you can see what we know about r* ... very little.

European Central Bank@ecb.europa.eu · last yr.

Updated estimates of the euro area natural interest rate remain broadly unchanged since the end of 2023 following a modest post-pandemic increase, our latest #EconomicBulletin finds. Read more here www.ecb.europa.eu/press/econom...

Tomorrow marks the 80th anniversary of the liberation of the Auschwitz-Birkenau concentration camp and we will gather at the @ecb to honour the memory of Holocaust victims, particularly those deported from the Großmarkthalle in Frankfurt, which forms part of our main building. 1/3

It is great to talk to young people and explain to them what we do. In our Visitor Centre, we have a small version of our Governing Council table, creating an authentic atmosphere. One surprise for me was that quite a few of the young people said they prefer using cash to cards. #ourECB #ECBandYou

European Central Bank@ecb.europa.eu · 2y ago

Did you know that we regularly welcome visitors to our main building in Frankfurt? Just this week, Executive Board member @isabelschnabel.bsky.social met high-school students from Heidelberg to talk about who we are and what we do. Visit us: www.ecb.europa.eu/ecb-and-you/...

It was great fun to join @finanztip.bsky.social for an interview on inflation, monetary policy and the economic challenges lying ahead (available on YouTube). Thanks to Saidi & his team for coming to the ECB, and for your work on improving #FinancialLiteracy, which also matters for monetary policy.

European Central Bank@ecb.europa.eu · 2y ago

How is inflation developing? What challenges lie ahead for our economy? And what role do central bankers play? Executive Board member @isabelschnabel.bsky.social spoke to @finanztip.bsky.social to discuss these questions and more. www.youtube.com/watch?v=fU-O...

On Christmas Eve we are reminded that there is always hope for a more peaceful world. I wish all of you a Merry Christmas! We are thinking especially of those who are suffering and cannot celebrate in peace. ❤️🕊️⭐️🎄

In my speech “Navigating towards neutral”, delivered at the @cepr.org #ParisSymposium, I argue that monetary policy should proceed gradually towards neutral and remain data-dependent. Once price stability is restored, we can be more tolerant of moderate deviations from target. 1/22

After the horrible attacks, we in Europe stand firmly with the people of Israel. #StandWithIsrael 🇮🇱🤝🇪🇺

In a wide-ranging interview with the Croatian newspaper Jutarnji List, I talk about the inflation outlook, excess liquidity, minimum reserve requirements, recession risks, the role of wages and profits, fiscal policy and what all that means for our monetary policy. The full transcript is here:

Interview with Jutarnji list

The European Central Bank (ECB) is the central bank of the European Union countries which have adopted the euro. Our main task is to maintain price stability in the euro area and so preserve the purch...

ecb.europa.eu

>500 friendly followers - not bad! Just the #ECBsky is still quite empty. To have a discussion on monetary policy & financial markets we need some of those people here.

Welcome to my new followers on this platform, which looks quite promising. Today we indeed had a blue sky in Frankfurt, so I send you a picture of the place where I spend most of my time. Looking forward to fruitful exchanges! #ourECB #firstpost