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  • The ECB’s commercial paper purchases
    THE ECB BLOG
    The ECB’s commercial paper purchases

    Commercial paper purchases are key for monetary policy transmission to the real economy, explain Vice-President Luis de Guindos and Executive Board member Isabel Schnabel in The ECB Blog. They ease financing conditions for firms and help them manage short-term funding needs.

ECB announces temporary collateral easing measures
7 April 2020 PRESS RELEASE

ECB announces temporary collateral easing measures

The ECB has adopted unprecedented collateral measures to mitigate the tightening of financial conditions and support lending to the euro area economy. They complement recent measures such as the Pandemic Emergency Purchase Programme as a response to the coronavirus pandemic.

Sweden to join instant payments settlement platform
3 April 2020 PRESS RELEASE

Sweden to join instant payments settlement platform

The ECB has concluded an agreement with Sveriges Riksbank that will give Sweden access to the Eurosystem’s TARGET Instant Payment Settlement (TIPS) platform. In addition to euro payments, TIPS will process electronic payments made in Swedish krona in real time as of May 2022.

12/03/2020
Christine Lagarde, Luis de Guindos: Introductory statement to the press conference (with Q&A)
Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB, Frankfurt am Main, 12 March 2020
English
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV
02/03/2020
Luis de Guindos: Remarks at the European Economics and Financial Centre
Remarks by Luis de Guindos, Vice-President of the ECB, at the European Economics and Financial Centre
English
27/02/2020
Philip R. Lane: Monetary policy, low interest rates and low inflation
Dinner remarks by Philip R. Lane, Member of the Executive Board of the ECB, at the Centre for European Reform
English
27/02/2020
Isabel Schnabel: How long is the medium term? Monetary policy in a low inflation environment
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Barclays International Monetary Policy Forum
English
27/02/2020
Christine Lagarde: Climate change and the financial sector
Speech by Christine Lagarde, President of the ECB, at the launch of the COP 26 Private Finance Agenda
English

All speeches

08/04/2020
Christine Lagarde: Entretien avec Le Parisien
Entretien accordé par Christine Lagarde, Présidente de la BCE, à Matthieu Pelloli
Français
04/04/2020
Isabel Schnabel: Interview with To Vima
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Angelos Athanasopoulos and published on 4 April 2020
English
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EλληνικάEL
30/03/2020
Luis de Guindos: Interview with Cadena COPE
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Carlos Herrera on 30 March 2020
English
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EspañolES
21/03/2020
Isabel Schnabel: Interview with Frankfurter Allgemeine Sonntagszeitung
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Patrick Bernau and Dennis Kremer
English
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DeutschDE
20/03/2020
Luis de Guindos: Interview with Telediario 2, Televisión Española
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Carlos Franganillo on 19 March 2020
English
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EspañolES

All interviews

07/04/2020
Guideline of the ECB of 7 April 2020 amending Guideline ECB/2014/31 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral  (ECB/2020/21)
ENGLISH
07/04/2020
Decision of the ECB of 7 April 2020 amending Guideline (EU) 2015/510 on the implementation of the Eurosystem monetary policy framework and Guideline (EU) 2016/65 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2020/20)
ENGLISH
30/03/2020
Opinion on the provision of emergency liquidity assistance by Lietuvos bankas (CON/2020/11)
Lithuania, 
ENGLISH
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LietuviųLT
30/03/2020
Recommendation of the ECB of 27 March 2020 on dividend distributions during the COVID-19 pandemic and repealing Recommendation (ECB/2020/1)  (ECB/2020/19)
ENGLISH
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV
25/03/2020
Opinion on close cooperation between the ECB and Hrvatska narodna banka (HNB) within the Single Supervisory Mechanism, and on the macroprudential mandate and tools of HNB (CON/2020/10)
Croatia, 
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HrvatskiHR

All legal acts

ECB supports euro area through historic crisis
4 April 2020 INTERVIEW

ECB supports euro area through historic crisis

Mitigating the negative economic effects of the pandemic in all euro area countries and supporting the recovery makes the whole of Europe stronger, says Executive Board member Isabel Schnabel to Greek newspaper To Vima. The PEPP is the right instrument to counter the current crisis.

INSERTED BY ANOMYOUS PROXY

Civil war declaration

On April 14th and 15th, 2012 Federal Republic of Germany "_urkenstaats"s parliament, Deutscher Bundestag, received a antifiscal written civil war declaration by Federal Republic of Germany "Rechtsstaat"s electronic resistance for human rights even though the "Widerstandsfall" according to article 20 paragraph 4 of the constitution, the "Grundgesetz", had been already declared in the years 2001-03.

The Monetary Policy Package: An Analytical Framework
THE ECB BLOG

The Monetary Policy Package: An Analytical Framework

We will not tolerate any risks to the smooth transmission of our monetary policy in all jurisdictions of the euro area, Executive Board member Philip R. Lane writes in the inaugural post of The ECB Blog. The post explains the analytical framework underlying the March monetary policy measures.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.50 %
Effective from 18 September 2019

Inflation rates

 Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.0871
JPY Japanese yen 118.36
GBP Pound sterling 0.87948
CHF Swiss franc 1.0557
Last update: Wednesday, 08 April 2020 Euro foreign exchange rates

Financial stability

Market operations

Multimedia

  • ECB Governing Council Press Conference - 12 March 2020

    ECB Governing Council Press Conference - 12 March 2020

  • Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

    Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

  • The ECB explains: crypto-assets

    The ECB explains: crypto-assets

  • ECB Forum on Central Banking 2019

    ECB Forum on Central Banking 2019

  • Download the ECB Art App

    Download the ECB Art App

  • Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

    Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

  • Euro Banknotes – Our Money, Our Journey

    Euro Banknotes – Our Money, Our Journey

  • Unveiling of the New 100 and 200 Euro Banknotes

    Unveiling of the New 100 and 200 Euro Banknotes

  • 20 years of ESCB statistics: What's next?

    20 years of ESCB statistics: What's next?

  • ECB Interview with Cornelia Holthausen

    ECB Interview with Cornelia Holthausen

  • ECB Press Conference – 12 March 2020

    ECB Press Conference – 12 March 2020

  • New signature for euro banknotes - 28 November 2019

    New signature for euro banknotes - 28 November 2019

  • Christine Lagarde's Keynote Speech - European Banking Congress 2019

    Christine Lagarde's Keynote Speech - European Banking Congress 2019

  • Farewell President Draghi - 28 October 2019

    Farewell President Draghi - 28 October 2019

  • ECB Conference on Gender and Career Progression - 21 October 2019

    ECB Conference on Gender and Career Progression - 21 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

    European Cultural Days of the ECB: Museumssalon - October 23 2019

  • ECB Press Conference - 24 October 2019

    ECB Press Conference - 24 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

    European Cultural Days of the ECB: Museumssalon - October 23 2019

  • European Cultural Days -10 October 2019

    European Cultural Days -10 October 2019

  • Sendung mit der Maus Tag der offenen Tür - 3 October 2019

    Sendung mit der Maus Tag der offenen Tür - 3 October 2019

  • The international role of the euro, June 2018 - cover image

    The international role of the euro, June 2018

  • Financial integration in Europe, May 2018 - cover image

    Financial integration in Europe, May 2018

  • Price and wage-setting in advanced economies - cover image

    Price and wage-setting in advanced economies

  • ESCB Legal Conference 2018 - cover image

    ESCB Legal Conference 2018

  • Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments - cover image

    Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments

  • Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull - cover image

    Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull

  • The monetary policy of the ECB - cover image

    The monetary policy of the ECB

  • The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field - cover image

    The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field