European Central Bank

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Moving Economic and Monetary Union forward

Europe succeeds when it focuses on common challenges, recognises interdependence and responds with appropriate institutions, says President Mario Draghi in Berlin.
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20 September 2018CONFERENCE

Third ECB Annual Research Conference

The ECB is holding its third Annual Research Conference on 25 and 26 September in Frankfurt, bringing together leading academics in the fields of monetary economics and finance.

The Jean Monnet Lecture will be given by Dani Rodrik of Harvard University and will be webcast live.

Programme

17 September 2018EVENT

Children’s event: open doors at the bank!

Registration now open: fans of the children’s show “Die Sendung mit der Maus” are invited to visit the ECB on 3 October as part of the show’s Germany-wide “open doors” event. Children and their families will take part in fun activities and learn about the euro, the ECB and the EU.

19/09/2018: Euro area monthly balance of payments: July 2018
ENGLISH
18/09/2018: Consolidated financial statement of the Eurosystem as at 14 September 2018
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Commentary
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17/09/2018: ECB unveils new €100 and €200 banknotes
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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
14/09/2018: Staff statement following the first post-programme mission to Greece
ENGLISH
14/09/2018: Payments statistics: 2017
ENGLISH

All press releases

20/09/2018: Peter Praet: Challenges to monetary policy normalisation
Speech by Peter Praet, Member of the Executive Board of the ECB, at the SUERF conference “Sustainable Policy Responses: EU and US Perspectives”, New York, 20 September 2018
ENGLISH
19/09/2018: Mario Draghi: Economic and Monetary Union: past and present
Speech by Mario Draghi, President of the ECB, at the Europa-Konferenz at Hertie School of Governance organised by the Jacques Delors Institute, Berlin, 19 September 2018
ENGLISH
18/09/2018: Mario Draghi: The Benefits of European Supervision
Speech by Mario Draghi, President of the ECB, at the ACPR Conference on Financial Supervision, Paris, 18 September 2018
ENGLISH
17/09/2018: Peter Praet: Economic developments in the euro area
Presentation by Peter Praet, Member of the Executive Board of the ECB, to the Société Royale d’Economie Politique, Brussels, 17 September 2018
ENGLISH
17/09/2018: Benoît Cœuré: Forward guidance and policy normalisation
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Deutsches Institut für Wirtschaftsforschung, 17 September 2018
ENGLISH

Slides
ENGLISH

All speeches

05/09/2018: Benoît Cœuré: Interview with Kathimerini
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Eirini Chrysolora and published on 5 September 2018
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EλληνικάEL
05/08/2018: Sabine Lautenschläger: Interview with Welt am Sonntag
Interview with Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, conducted by Anja Ettel and Anne Kunz on 30 July 2018 and published on 5 August 2018
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DeutschDE
09/07/2018: Benoît Cœuré: Interview with Bloomberg TV
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Caroline Connan and broadcast on 9 July 2018
ENGLISH
25/06/2018: Benoît Cœuré: Interview with Le Figaro
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Fabrice Nodé-Langlois and published on 25 June 2018
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FrançaisFR
23/06/2018: Peter Praet: Interview with Expresso
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by João Silvestre on 18 June 2018 and published on 23 June 2018
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PortuguêsPT

All interviews

17/09/2018: Eurosystem report on the gap assessment of card payment schemes against the “Oversight framework for card payment schemes – standards”
ENGLISH
17/09/2018: ESS – ESCB quality assessment report on statistics underlying the Macroeconomic Imbalance Procedure (annual report for 2017)
2017 annual report on the main characteristics and quality aspects of the statistics underlying the Macroeconomic Imbalance Procedure
ENGLISH
14/09/2018: Letter from the ECB President to Mr Miguel Viegas, MEP, on high-denomination euro banknotes
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PortuguêsPT
14/09/2018: Letter from the ECB President to Mr Joachim Starbatty and Ms Ulrike Trebesius, MEP, on TARGET2
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DeutschDE
14/09/2018: Letter from the ECB President to Mr Jonás Fernández, MEP, on a central bank digital currency
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14/09/2018: Letter from the ECB President to Mr Nikolaos Chountis, MEP, on the Greek economy
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EλληνικάEL
14/09/2018: Letter from the ECB President to Mr Nikolaos Chountis, MEP, on the Greek economy
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EλληνικάEL
14/09/2018: Working paper no. 2175: ALICE: A new inflation monitoring tool
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13/09/2018: ECB staff macroeconomic projections for the euro area, September 2018
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Projection charts and tables
ENGLISH
28/08/2018: AnaCredit Validation Checks – Selected validation checks performed in AnaCredit datasets – Version 1.2
ENGLISH

All publications

14/09/2018: Recommendation of the ECB of 6 September 2018 to the Council of the European Union on the external auditors of Banco de España (ECB/2018/22)
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11/09/2018: Opinion on amendments to the reform of popolari banks and cooperative banks (CON/2018/42)
Italy,
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ItalianoIT
04/09/2018: Opinion on new rounding rules for payments denominated in euro (CON/2018/41)
Belgium,
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03/09/2018: Opinion on the transmission of administrative data for statistical purposes (CON/2018/40)
Germany,
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DeutschDE
31/08/2018: Opinion on critical infrastructures, cybersecurity and covered bonds (CON/2018/39)
Slovakia,
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SlovenčinaSK

All legal acts

20 September 2018SPEECH

Challenges to monetary policy normalisation

Rising protectionism, vulnerabilities in emerging markets and financial market volatility have gained more prominence recently, says Executive Board member Peter Praet. However, the strength of the economy supports our confidence that inflation will continue to converge towards our aim.

Speech

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.

EXPLAINER

How the ECB's policy has reduced inequality

The ECB’s monetary policy measures since 2014 have not only helped growth and eliminated the risk of deflation – they have also reduced overall inequality in the euro area, new research confirms. Take a look at our explainer video to find out how.

Show me

Interest rates

Marginal lending facility	0.25 %
Main refinancing operations (fixed rate)	0.00 %
Deposit facility	− 0.40 %

Effective from 16 March 2016

Past key ECB interest rates

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD	US dollar	1.1769
JPY	Japanese yen	131.98
GBP	Pound sterling	0.88590
CHF	Swiss franc	1.1312

Last update: Thursday, 20 September 2018 Euro foreign exchange rates

Financial stability

Market operations

Multimedia

20 years of ESCB statistics: What's next?
20th anniversary – Staff testimonials / First Day at the ECB
ECB Forum on Central Banking 2018
How are Executive Board members chosen?
Interview with Vítor Constâncio. ECB Vice-President (2011 – 2018)
Financial Stability Review - May 2018
Vítor Constâncio interview on the Financial Stability Review - May 2018
How does the euro help Europeans do business?
What is ethical hacking?
Generation €uro Students' Award 2018
Communications challenges for policy effectiveness, accountability and reputation
Meeting the #EuroVideoChallenge finalists at the award ceremony
What is TARGET Instant Payment Settlement (TIPS)?
#ECBYouthDialogue - Dublin, Ireland
Highlights ECB Forum on Central Banking 2017
#ECBYouthDialogue - Lisbon 2017
Interview Vítor Constâncio on Financial Stability Review
EU Open Days - May 2017
Generation €uro Students' Award 2017
The new €50 banknote is now in circulation
How quantitative easing works
15 years of the euro
Inside the Asset Purchase Programme
ECB and the Eurosystem explained in 3 min.

Estonian Art Vernissage - 27 June 2018
ECB Forum on Central Banking - 18/20 June 2018
ECB Press Conference - 14 June 2018
EU Open Day - 5 May 2018
Joint Conference of the European Central Bank and the European Commission - 3 May 2018
ECB Press Conference - 26 April 2018
Generation €uro Students’ Award - 10 -11 April 2018
Luminale: Cross Hatch - 18 March 2018
ECB Press Conference - 8 March 2018
Central Bank Communications Conference - 14-15 November 2017
2017 #EuroVideoChallenge Award Ceremony in Lyon - 9 November 2017
European Cultural Days - 26 October 2017
ECB Press Conference - 26 October 2017
Inauguration ECB Visitor Centre – 4 October 2017
Sendung mit der Maus - 3 October 2017
#ECBYouthDialogue, Dublin - 22 September 2017
Opening of the Cyprus Contemporary Art Exhibition - 20 September 2017
ECB Press Conference - 7 September 2017
ECB Press Conference - 20 July 2017
#ECBYouthDialogue - 26 June 2017, Lisbon, Portugal
ECB Forum on Central Banking - Sintra, Portugal, 26-28 June 2017
ECB Press Conference - 8 June 2017, Tallinn
EU Open Day in Brussels - 6 May 2017
ECB Open Day for women in technical fields - 04 May 2017
ECB Press Conference - 27 April 2017
The new €50 banknote - 4 April 2017
Generation Euro Students' Award - 4/5 April 2017
Europe's digital integrated market - 31 January 2017
25 November 2016 UN Orange Day
17 October 2016 Cultural Days Opening Concert
3 October 2016 Türen Auf!
Unveiling of the new €50 banknote
Young Economists at ECB Forum on Central Banking
ECB Main Building
Luminale 2016 - ECB's illuminated buildings

The international role of the euro, June 2018
Financial integration in Europe, May 2018
ECB Legal Conference 2017 - Shaping a new legal order for Europe: a tale of crises and opportunities
ECB Forum on Central Banking - Investment and growth in advanced economies
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
The monetary policy of the ECB
The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field