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Philippe Waechter's blog

DIRECTOR OF ECONOMIC RESEARCH, OSTRUM AM

A dynamic and cyclical approach to the global economy

  • 25 views

Can our financial system support the green transition when the going gets tough?

  • 29 November 2024
  • Monetary Policy

Philippe Waechter

In a post on the ECB blog, its Vice-President Luis de Guindos presents the three scenarios used in the stress tests to measure the resilience of the financial system during…

READ
  • 32 views

A somewhat empty framework for the ECB’s monetary policy

  • 25 September 2024
  • Eurozone

Philippe Waechter

During the Michel Camdessus Conference held at the IMF on September 20, Christine Lagarde returned to the mechanisms of transmission of monetary policy in a troubled period.The message is that…

READ
  • Climate Change
  • ECB
  • Inflation
  • 36 views

The Fed is signaling a more accommodating monetary policyfrom September.

  • 23 August 2024
  • Monetary Policy

Philippe Waechter

Jay Powell announced at the central bankers’ meeting in Jackson Hole that the US central bank would begin its interest rate reduction cycle.JThe Fed boss was clear and unambiguous.

READ
  • Federal Reserve
  • Jay Powell
  • 41 views

Positive real interest rate: a new world opens

  • 17 November 2023
  • Decoding

Philippe Waechter

New regime change on the debt market, inflation and long-term interest rates are now on an equal footing. A little over two years ago, investors had to successively face a…

READ
  • Inflation
  • Interest Rate
  • Monetary Policy
  • 31 views

Should central banks adapt to a changing economy?

  • 5 July 2023
  • Decoding

Philippe Waechter

Should we change the inflation target? If inflation is permanently higher and for an extended period, central banks will quickly feel cramped with a 2% target. The economy changes radically…

READ
  • Energy Transition
  • Inflation
  • Inflation targeting
  • 204 views

The ECB new strategy

  • 10 June 2022
  • Euro Area

Philippe Waechter

The ECB is changing course. With its interest rate hike scheduled for 21 July, the ECB is putting an end to a long period of very low and stable interest…

READ
  • Central Banks
  • Inflation
  • Interest Rates
  • 93 views

Inflation risk wins over investors

  • 16 March 2022
  • Monetary Policy

Philippe Waechter

Twenty days after the invasion of Ukraine by Russia, the risk of inflation takes precedence over the risk of slowing activity in the perception of investors.At her press conference, Christine…

READ
  • Central Banks
  • Inflation
  • Inflation expectations
  • Yield Curve
  • 140 views

Should the ECB become aggressive?

  • 9 February 2022
  • Euro Area

Philippe Waechter

The ECB, after Christine Lagarde’s remarks at the February 3 press conference, is following in the footsteps of the Fed. Like the US central bank, the ECB has changed its…

READ
  • ECB
  • Energy price
  • Federal Reserve
  • Inflation
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