Inflation data support ongoing hawkish rhetoric at the ECB but financial stability risk has markets substantially re-price the path for policy rates lower. The risk of miscommunication is high at this ...

EURUSD has tracked the divergence between the relative balance sheets of the Fed and the ECB quite tightly since the financial crisis, but now, with the ECB’s balance sheet shrinking and the Fed ...

At the end of Q1, the ECB wrote up its gold holdings by another €130 billion to €1.00 trillion. The ECB has now shed €2.17 trillion of its loans, with just €24 billion left on its balance sheet, below ...

Central balance sheets across the industrialized world have increased rapidly in response to the financial crisis, as recently noted, opens new tab on this blog. In Europe, the balance sheet of the ...