Time to wrap up for today. Many thanks for your questions – I really enjoyed our chat! Take care, @Isabel_Schnabel #AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624066571873263616

🇪🇺@Isabel_Schnabel: The euro removes exchange rate fluctuations and thereby makes trade and travel easier. Even as inflation is far too high, the euro has provided more price stability on average than the national currencies before it. The euro is a symbol of our unity. #AskECB
RT @PStein59990336: @ecb @Isabel_Schnabel What are the advantages for a country to join the eurozone?
#askecb

🐦🔗: https://n.respublicae.eu/ecb/status/1624066282910785536

🇪🇺@Isabel_Schnabel: The return of a low inflation, low growth environment with low interest rates is not my baseline but cannot be excluded. It depends on how big structural changes, like the green transition, demography, digitalisation, globalisation, will play out. #AskECB
RT @WongGammelin: @ecb @Isabel_Schnabel Hallo! Do you expect ECB to adopt a zero interest rate policy in the medium run, if at all? #AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624066048457678852

🇪🇺@Isabel_Schnabel: Our primary mandate, defined by the Treaty, is price stability, which is affected by climate change. Without prejudice to price stability, we stand ready to support the fight against climate change and ensure alignment with the Paris Agreement. #AskECB
RT @KliberFilip: @ecb @Isabel_Schnabel #AskECB
Do EBC consider any changes in central bank goals? Are "green" goals posible?

🐦🔗: https://n.respublicae.eu/ecb/status/1624064825981534212

🇪🇺@Isabel_Schnabel: There are many different effects, including on energy and commodity prices, foreign demand, bottlenecks and international competition. The net effect on euro area inflation is likely to be positive in 2023. #AskECB
RT @777mingus: Dear Mrs @Isabel_Schnabel, what is the net effect on inflation the @ecb expects from China's return to growth and trade after its lockdowns? #AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624063930225111041

🇪🇺@Isabel_Schnabel: We look at a wide range of indicators from market pricing to surveys. Longer-term inflation expectations remain largely anchored, but the right-hand tail has increased in many cases, which we are closely monitoring. #AskECB
RT @clemfon: @ecb @Isabel_Schnabel #AskECB you said that your main motivation for rising itnerest rates was to safeguard credibility and keep market expectations anchored. Which metric do you use to analyse the degree of exp…

🐦🔗: https://n.respublicae.eu/ecb/status/1624062710299168768

🇪🇺@Isabel_Schnabel: Monetary policy has had little effect so far *on inflation*. Tighter bank lending conditions are early signs that our tighter monetary policy is working. But they also seem to be driven by banks’ risk perceptions. #AskECB
RT @p_e_r_i_c_l_e_s: #AskECB You've said that "So far, monetary tightening has had little effect". However, in the last Bank Lending Survey, we see a high number of banks reporting a decrease in demand for credit because of th…

🐦🔗: https://n.respublicae.eu/ecb/status/1624062435052208131

@fwred 🇪🇺@Isabel_Schnabel: Please see my answer to the question from
@JanBerka8⬇️ #AskECB
RT @ecb: 🇪🇺@Isabel_Schnabel: The transmission lags of our current policy measures are highly uncertain. Therefore, we are closely monitoring the degree to which our measures are becoming restrictive based on incoming data. #AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624061898525229058

🇪🇺@Isabel_Schnabel: We cannot yet claim victory in taming inflation. That’s why we need to stay the course and raise rates significantly further. Whether another 50 basis point hike is needed will depend on incoming data and our assessment of the inflation outlook. #AskECB
RT @edamscheeser: @Isabel_Schnabel would you say 50 is off the table for May?

#AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624060372448694274

@pietphc 🇪🇺@Isabel_Schnabel: Please see my answer to the question from @xadarcy⬇️ /retweets/with_comments #AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624060029677477889

🇪🇺@Isabel_Schnabel: Real interest rates at all tenors have increased measurably in recent months, reflecting to a considerable extent the ongoing tightening of monetary policy. Persistently higher real rates are required to restore price stability. #AskECB
RT @peelpeelorange: @Isabel_Schnabel I got only 1 question:

When rates above core inflation?

😊

🐦🔗: https://n.respublicae.eu/ecb/status/1624059782230421505

🇪🇺@Isabel_Schnabel: Tighter credit conditions are a first indication that monetary policy is becoming effective. But they also reflect banks’ risk perceptions that may change if the economy improves. Slower loan growth is an essential part of the transmission mechanism. #AskECB
RT @FGoria: @ecb @Isabel_Schnabel The latest BLS showed that credit conditions are worsening. Do you expect a credit crunch in the near term?

🐦🔗: https://n.respublicae.eu/ecb/status/1624058940270026752

🇪🇺@Isabel_Schnabel: Tighter financing conditions dampen economic demand and thereby economic activity. This does not necessarily lead to a recession. A soft landing is possible but not guaranteed. #AskECB
RT @negocios_tv: @ecb @Isabel_Schnabel #askECB De Guindos said yesterday that he believes conditions are improving, and the eurozone could avoid recession. Is it possible to continue tightening in order to avoid a second round of inflation and avoid an economic r…

🐦🔗: https://n.respublicae.eu/ecb/status/1624058349259046913

🇪🇺@Isabel_Schnabel: The rate path rests on the market’s view that inflation returns to our target quickly. Our decisions will be based on incoming data. We need to see robust evidence that underlying inflation is returning to our target in a timely and durable manner. #AskECB
RT @xadarcy: @ecb @Isabel_Schnabel Do you think that the current path for ECB rate hikes priced in by markets is enough to return inflation to 2% in a timely manner? #AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624058285153308675

🇪🇺@Isabel_Schnabel: These are two very different things: a central bank digital currency is digital money issued directly by a central bank for people. SWIFT is a private service provider for financial transactions and payments between banks worldwide. #AskECB
RT @MagnumBTC: @ecb @Isabel_Schnabel #AskECB what are the differences between swift and a CBDC?

🐦🔗: https://n.respublicae.eu/ecb/status/1624057952247111683

🇪🇺@Isabel_Schnabel: Further efforts are needed to make our operations Paris aligned. In a recent speech, I laid out three areas of action: corporate bond holdings, public sector bond holdings and lending operations including collateral. See here:
https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230110~21c89bef1b.en.html #AskECB
RT @ecileri: Hi @Isabel_Schnabel! The approach laid out by the @ecb for the greening of CSPP is close to the one used by the @Ban…

🐦🔗: https://n.respublicae.eu/ecb/status/1624057650152456192

🇪🇺@Isabel_Schnabel: The euro is one of the most stable currencies in the world and enjoys a lot of trust. Fixed supply does not guarantee a stable value of assets. They can still exhibit sharp price fluctuations. #AskECB
RT @mira_hurley: @ecb @Isabel_Schnabel Honest question (and thanks for doing this):

Why would I as an individual, for the long term, prefer to hold a currency intended to lose 2% value a year over a currency with fixed supply? #AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624057282471378946

🇪🇺@Isabel_Schnabel: In today’s uncertain environment marked by unprecedented shocks, many forecasts, including our own, have been off the mark. That’s why we always use all available data, including current inflation, to get a better picture of the inflation outlook. #AskECB
RT @libertarian968: @ecb @Isabel_Schnabel Given the dismal record of your inflation projections, why don‘t you use the current inflation rate as a proxy for future inflation rates? #AskECB.

🐦🔗: https://n.respublicae.eu/ecb/status/1624056962613739522

🇪🇺@Isabel_Schnabel: The euro has established itself as a leading global currency and is the second most important currency in the international monetary system. Sorry to disappoint you, but the euro is here to stay. #AskECB
RT @TomasHancar: @ecb @Isabel_Schnabel #AskECB a second round of question - Even after the recent pretty decent bull trap rally, $EUR is still about 15% weaker relative to the $USD than at the (in)famous Draghi's "whatever it takes" moment. I o…

🐦🔗: https://n.respublicae.eu/ecb/status/1624056660489564160

🇪🇺@Isabel_Schnabel: We take too high inflation as seriously as too low inflation. We are currently in the fastest rate hiking cycle in the ECB’s history. Our policy rates have gone up by 3 percentage points over the past seven months. And we still have ground to cover. #AskECB
RT @VeniVid62045424: @ecb @Isabel_Schnabel Why do you lower IMMEDIATELY rates to 0% when inflation is below 2% and you do not act at all when inflation is so much above target ?

#AskECB

🐦🔗: https://n.respublicae.eu/ecb/status/1624056464477155330