ECB June 2026 SESFOD Survey Shows Slight Credit Easing Amid Volatility
The ECB published the June 2026 SESFOD survey results, covering March to May 2026. Respondents reported a second consecutive quarter of slight net easing of credit terms for all counterparties, driven by price terms. Financing rates rose across collateral types while demand for secured funding increased, particularly for equities. The survey highlights market resilience despite heightened volatility from geopolitical tensions and oil price shocks.
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ECB July 2026 Accounts: Geopolitical Risk, Energy Shocks, and the Case for a Policy Pause
ECB keeps rates unchanged but leaves further hikes on the table: The ECB's July meeting account confirms that interest rates were kept unchanged amid high uncertainty. While inflation had eased, members remained concerned about upside risks from energy prices and geopolitical tensions, with further rate increases still possible if the inflation outlook does not improve.
27 Aug 2026
Isabel Schnabel: Central banks on-chain
ECB explores the future of central bank money in tokenised markets: In a speech at Jackson Hole, ECB Executive Board member Isabel Schnabel highlighted the potential of tokenisation to improve the efficiency and integration of financial markets. She stressed that central bank money should play a central role in the emerging DLT ecosystem and outlined the Eurosystem's ongoing work through Projects Appia and Pontes.
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ECB Consumer Expectations Survey: July 2026 Inflation Expectations Edge Down
The ECB's July 2026 Consumer Expectations Survey shows a slight decline in perceived and expected inflation over short and medium horizons, while five-year expectations hold at 2.4%. Income growth expectations weakened and labour market sentiment softened, with higher job-loss expectations among employees. These indicators offer early signals for household demand and credit conditions relevant for risk monitoring.
21 Aug 2026