The Governing Council usually meets twice a month at the Eurotower in Frankfurt am Main, Germany.
At its first meeting each month, the Governing Council assesses economic and monetary developments and takes its monthly monetary policy decision. At its second meeting, the Council discusses mainly issues related to other tasks and responsibilities of the ECB and the Eurosystem.
While the minutes of the meetings are not published, the monetary policy decision is explained in detail at a press conference held shortly after the first meeting each month. The President, assisted by the Vice-President, chairs the press conference.
The accession of Lithuania to the euro area next year will trigger a system under which National Central Bank Governors take turns holding voting rights on the Governing Council.
In this text, the ECB answers some frequently asked questions on how the system works and why it exists.
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