The European Central Bank, inflation tolerance and the last mile

March 20, 2024--Inflation in the euro area has declined convincingly from the very high levels seen in the past couple of years. The rate is expected to be 2.3% in 2024-what a difference from 8.4% in 2022 and 5.6% in 2023.
But in January 2024 it was still 2.8%, so still has some way to go before dropping to 2.3%, and then to 2%, which is commonly considered to be the desirable level.

In a speech in November, European Central Bank (ECB) executive board member, Isabel Schnabel seemed to pre-empt this, talking about the "last mile" that, just like in endurance sports, is the hardest to push through.

But insisting on completing the "last mile" is quite the wrong narrative to follow. As the system is rigged with uncertainty and there is no way of understanding either the direction or size of risks, the ECB should talk instead about inflation tolerance -or risk introducing even greater volatility into the system.

Ex-Pimco executive plans Europe's first catastrophe-bond ETF

October 29, 2025--King Ridge Capital Advisors is already managing the world's first-ever cat-bond ETF for Brookmont Capital Management.
Europe may soon get its first exchange-traded fund based on catastrophe bonds.
An application to register the ETF was filed in Ireland, according to Rick Pagnani, co-founder and CEO of King Ridge Capital Advisors.

CoinShares Launches TON ETP with Zero Management Fees and 2% Staking Yield

October 28, 2025-Europe's leading digital asset manager delivers institutional access to TON, the blockchain powering Telegram's 900+ million users.