How are changes in energy markets affecting people’s daily lives? And how can we make our economies more resilient to these shocks? Our host Katie Ranger discusses recent developments in energy markets and their impact on our economies with Norges Bank Governor Ida Wolden Bache while at the ECB Forum on Central Banking.

Published on 29 June 2023 and recorded on 27 June 2023.

ECB Forum on Central Banking 2023 – programme https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html

European Central Bank www.ecb.europa.eu

How stable is the global economic recovery? And is geoeconomic fragmentation a threat?

Gita Gopinath, the IMF’s First Deputy Managing Director, joins our host Katie Ranger on the ECB Podcast to discuss these and other questions while at the ECB Forum on Central Banking in Sintra, Portugal.

Published on 27 June 2023 and recorded on 27 June 2023.

Further reading:

Three Uncomfortable Truths For Monetary Policy - Remarks by Gita Gopinath at the ECB Forum on Central Banking, 26 June 2023

https://www.ecb.europa.eu/pub/conferences/ecbforum/shared/pdf/2023/Gopinath_speech.pdf

Three Uncomfortable Truths For Monetary Policy - Presentation by Gita Gopinath at the ECB Forum on Central Banking, 26 June 2023

https://www.ecb.europa.eu/pub/conferences/ecbforum/shared/pdf/2023/Gopinath_presentation.pdf

IMF’s world economic outlook 2023

https://www.imf.org/en/Publications/WEO/Issues/2023/04/11/world-economic-outlook-april-2023

IMF’s report on geoeconomic fragmentation and the future of multilateralism

https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2023/01/11/Geo-Economic-Fragmentation-and-the-Future-of-Multilateralism-527266

ECB Forum on Central Banking 2023 – programme

https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html

Link to Gita Gopinath's opening speech, 26th of June:

https://youtube.com/live/wbIbpItoOT4?feature=share

European Central Bank

www.ecb.europa.eu

What is the risk of a wage-price spiral? How long will we go on raising interest rates? And are companies’ high profits fuelling inflation?

Our host Katie Ranger discusses these questions with our Chief Economist Philip R. Lane on The ECB Podcast.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 23 June 2023 and recorded on 20 June 2023.

In this episode:

1:20 – The ECB’s latest monetary policy decisions

Why are we raising interest rates again and when will we reach the right rate to bring inflation down to our 2% target?

6:56 – Underlying versus headline inflation: what’s the difference?

What do we understand by core, headline and underlying inflation, what role do energy prices play, and which way is inflation going?

15:02 – The risk of a wage-price spiral

What is the risk of a wage-price spiral, why can it be dangerous and how can we avoid it?

19:44 – The ‘’greedflation’’ phenomenon

Are companies’ widening profit margins driving up inflation – and if so, how will this situation rebalance?

23:47 – Our guest’s hot tip

Our guest, Philip R. Lane, recommends that our listeners take a look at the 2023 Young Economist Prize finalists’ papers – and tune in to the ECB Forum on Central Banking to hear the winner being announced.

Further reading:

The ECB Forum on Central Banking 2023 – Programme

https://www.ecb.europa.eu/pub/conferences/html/20230626_ecb_forum_on_central_banking.en.html

Meet the finalists of the 2023 Young Economist Prize

https://www.ecb.europa.eu/pub/conferences/ecbforum/YE_competition/html/index.en.html

Our monetary policy statement at a glance – June 2023

https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_june.en.html

European Central Bank

www.ecb.europa.eu

Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area.

Listen to President Christine Lagarde present today’s decisions. The statement also covers:

- how the economy is performing

- how we expect prices to develop

- the risks to the economic outlook

- the dynamics behind financial and monetary conditions

Published and recorded during our press conference on 15 June 2023.

Additional material:

Our monetary policy statement at a glance, 15 June 2023

https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_june.en.html

Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 15 June 2023

https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230615~3de9d68335.en.html

Monetary policy decisions, 15 June 2023

https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230615~d34cddb4c6.en.html

Combined monetary policy decisions and statement, 15 June 2023

https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230615~19be62590b.en.pdf

Macroeconomic projections, 15 June 2023

https://www.ecb.europa.eu/pub/projections/html/index.en.html

European Central Bank

https://www.ecb.europa.eu/home/html/index.en.html

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

How stable is our financial system? And what risks do we see for banks and property markets?

Our host Katie Ranger delves into this topic with financial stability expert John Fell on The ECB Podcast.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 7 June 2023 and recorded on 2 June 2023.

In this episode:

01:45 – Looking back at the last six months

What is a positive thing that has happened during the last six months in the financial sector, and what events are worrying?

04:58 – How the bank failures and takeovers in the United States and Switzerland have affected euro area banks

Why were some of these events a surprise, and how much impact have they had on euro area banks?

10:20 – Lessons learnt from the banking turmoil

What issues has the turmoil raised, what lessons can be learnt from these events, and why did the speed and scale of bank runs stand out?

14:13 – Real estate markets

Which way are housing markets going after the long boom cycle?

19:52 – Our guest’s hot tip

Our guest, John Fell, shares two film recommendations with our listeners.

Additional material:

Financial Stability Review, May 2023

https://www.ecb.europa.eu/pub/financial-stability/fsr/html/index.en.html

The ECB Podcast: Hacktivists, ransoms and cyberwar – threats for the financial system? December 2022

https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221206_episode46.en.html

The ECB Podcast: Is financial stability at risk in these stormy times? November 2022

https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod221124_episode45.en.html

European Central Bank

www.ecb.europa.eu

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

As part of the celebrations for the ECB’s 25th anniversary, ECB President Christine Lagarde looks back at a quarter of a century of commitment to price stability and working for a better Europe, and explores what might lie ahead.

Published on 24 May 2023.

Speech of President Lagarde

https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230524~4e026cefbc.en.html

25 years of euro united – The ECB Blog by President Christine Lagarde

https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog.230524~ed0f2638c1.en.html

Explainer: What the European Central Bank does and what it means for you

https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/anniversary.en.html

Explainer: Five things you need to know about the ECB

https://www.ecb.europa.eu/ecb/educational/explainers/tell-me-more/html/five_things.en.html

Everyone needs stability – Introducing the ECB

https://www.ecb.europa.eu/ecb/educational/everyone-needs-stability/html/index.en.html

European Central Bank

www.ecb.europa.eu

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

How transparent do organisations need to be about climate risks, and why does it matter? Where do banks and the ECB stand on sharing this information?

Our host Katie Ranger speaks with Executive Board member and Supervisory Board Vice-Chair Frank Elderson in this episode of The ECB Podcast.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 13 May 2023 and recorded on 8 May 2023.

In this episode:

01:27 – What are climate disclosures and why do they matter?

What information organisations should share about their climate-related risks, the forms these disclosures can take, and why they’re important for people, companies, investors and institutions.

05:52 – Greenwashing and making sure disclosures aren’t misleading

How we can make sure organisations are acting – and not just sounding – green, and how to know if the climate information can be trusted.

13:32 – How well are banks disclosing their climate risks?

What our latest report reveals about the progress banks have made in becoming more transparent when it comes to climate risks, and what we expect from them as their supervisor.

17:50 – The ECB’s own climate disclosures

What our first set of climate disclosures shows about the carbon footprint of corporate bonds we bought as part of our monetary policy and other investments.

22:38 – Our guest’s hot tip

Additional material:

Press release: Banks must continue improving climate risk disclosures as new EU rules take effect, ECB report shows

https://www.bankingsupervision.europa.eu/press/pr/date/2023/html/ssm.pr230421~213bf10fbe.en.html

Press release: ECB starts disclosing climate impact of portfolios on road to Paris-alignment

https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230323~05efc3cf49.en.html

Explainer: What are climate disclosures?

https://www.ecb.europa.eu/ecb/educational/explainers/html/what-are-climate-disclosures.en.html

Speech by Frank Elderson: Policymakers as policy takers – accounting for climate-related and environmental factors in banking supervision and monetary policy

https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230421~489cd977e0.en.html

The ECB Podcast: Greening the financial system: milestones in our climate change journey, 9 July 2022

https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220709_episode36.en.html

Climate change and banking supervision

https://www.bankingsupervision.europa.eu/about/climate/html/index.en.html

Climate change and the ECB

https://www.ecb.europa.eu/ecb/climate/html/index.en.html

European Central Bank

www.ecb.europa.eu

European Banking Supervision

www.bankingsupervision.europa.eu

Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area.

Listen to President Christine Lagarde present today’s decisions. The statement also covers:

- how the economy is performing

- how we expect prices to develop

- the risks to the economic outlook

- the dynamics behind financial and monetary conditions

Published and recorded during our press conference on 4 May 2023.

Our monetary policy statement at a glance, 4 May 2023

https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_may.en.html

Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 4 May 2023

https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230504~f242392c72.en.html

Monetary policy decisions, 4 May 2023

https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230504~cdfd11a697.en.html

Combined monetary policy decisions and statement, 4 May 2023

https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230504~3751d33d72.en.pdf

European Central Bank

https://www.ecb.europa.eu/home/html/index.en.html

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

Today our Governing Council decided on monetary policy, determining what’s needed to achieve stable prices in the euro area.

Listen to President Christine Lagarde present today’s decisions. The statement also covers:

- how the economy is performing

- how we expect prices to develop

- the risks to the economic outlook

- the dynamics behind financial and monetary conditions

Published and recorded during our press conference on 16 March 2023.

Additional material:

Our monetary policy statement at a glance, 16 March 2023

https://www.ecb.europa.eu/press/pressconf/visual-mps/2023/html/mopo_statement_explained_march.en.html

Christine Lagarde, Luis de Guindos: Monetary policy statement (with Q&A), 16 March 2023

https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230316~6c10b087b5.en.html

Monetary policy decisions, 16 March 2023

https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.mp230316~aad5249f30.en.html

Combined monetary policy decisions and statement, 16 March 2023

https://www.ecb.europa.eu/press/pressconf/shared/pdf/ecb.ds230316~34822c9f1d.en.pdf

Macroeconomic projections, 16 March 2023

https://www.ecb.europa.eu/pub/projections/html/index.en.html

European Central Bank

https://www.ecb.europa.eu/home/html/index.en.html

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast

To mark International Women’s Day, President Christine Lagarde and WTO Director-General Dr Ngozi Okonjo-Iweala discuss women in the economy and share their experiences as female leaders.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Recorded and published on 8 March 2023.

Additional material:

ECB Scholarship for Women

https://www.ecb.europa.eu/careers/what-we-offer/wecs/html/index.en.html

The ECB Podcast: Breaking bias to build a more gender-equal world, 5 March 2022

https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod220305_episode29.en.html

The ECB Podcast: A conversation about female empowerment, the need for an inclusive recovery and transatlantic cooperation, 15 July 2021

https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210715_episode18.en.html

The ECB Podcast: Fighting biases and empowering women: A conversation on female leadership and gender equality, 8 March 2021

https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210308_episode15.en.html

European Central Bank website

www.ecb.europa.eu

You can also listen to The ECB Podcast on SoundCloud, Spotify, Deezer, Stitcher, YouTube, Amazon Music and many more pod.link/ecbpodcast