• Speech
    Towards sustainable globalisation

    Globalisation should be efficient, enduring and equitable, says Executive Board member Benoit Cœuré, remarking that more attention should be paid, in particular, to the distributive impact of globalisation. One of the advantages of the European project is that it can mitigate the trade-offs of globalisation.

16 February 2017ACCOUNT

Account of monetary policy meeting published

There was broad consensus in the Governing Council to maintain the intended pace and horizon of asset purchases, the account of its January monetary policy meeting shows. It was acknowledged that while both inflation and growth developments were moving in the right direction, uncertainties had not receded.

19 February 2017INTERVIEW

Euro area citizens benefit from common currency

The common currency has been a blessing for euro area citizens, says Executive Board member Sabine Lautenschläger. She argues that they are better off as the euro has boosted the area’s cohesion and confidence and reduced costs, e.g. for companies who no longer need to hedge foreign exchange risks.

17/02/2017
Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
February 2017
17/02/2017
Statistical press release: Euro area monthly balance of payments 
(December 2016)
16/02/2017
Account of the monetary policy meeting
of the Governing Council of the European Central Bank, held in Frankfurt am Main on Wednesday and Thursday, 18-19 January 2017
16/02/2017
Financial statements of the ECB for 2016
14/02/2017
ECB publishes Consolidated Banking Data for end-September 2016
10/02/2017
Statistical press release: Euro area securities issues statistics
02/02/2017
Extended publication of Securities Holdings Statistics
02/02/2017
Statistical press release: MFI interest rate statistics
27/01/2017
Statistical press release: Monetary developments in the euro area
27/01/2017
Statistical press release: Euro area economic and financial developments by institutional sector: 3rd Quarter 2016

All press releases

16/02/2017
Benoît Cœuré:  Sustainable Globalisation: Lessons from Europe
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, 
Workshop: “Financial globalization and its spillovers – monetary and exchange rate policy in times of crises”, 
Special public event “25 Years after Maastricht: The Future of Money and Finance in Europe”, 
Maastricht, 16 February 2017
10/02/2017
Yves Mersch:  Behaving responsibly in a low interest rate environment: A central banker’s perspective
Speech by Yves Mersch, Member of the Executive Board of the ECB, Stiftung Marktwirtschaft: Expertentagung “5th Kadener Gespräch”, Alveslohe, 10 February 2017
ENGLISH
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06/02/2017
Mario Draghi:  Hearing of the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 6 February 2017
03/02/2017
Vítor Constâncio:  Resolving Europe’s NPL burden: challenges and benefits
Keynote speech by Vítor Constâncio, Vice-President of the ECB, at an event entitled "Tackling Europe's non-performing loans crisis: restructuring debt, reviving growth" organised by Bruegel, Brussels, 3 February 2017
02/02/2017
Mario Draghi:  Security through unity: making integration work for Europe
Speech by Mario Draghi, President of the ECB, at the joint ECB and Banka Slovenije conference on the occasion of the 10th anniversary of the adoption of the euro, Ljubljana, 2 February 2017
ENGLISH
OTHER LANGUAGES (5) +

All speeches

19/02/2017
Sabine Lautenschläger:  Interview with Deutschlandfunk
Interview with Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, 
conducted by Klemens Kindermann and published on 19 February 2017
ENGLISH
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07/02/2017
Benoît Cœuré:  Interview with Le Parisien
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Séverine Cazes and Boris Cassel, published on 7 February 2017
ENGLISH
OTHER LANGUAGES (1) +
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23/01/2017
Benoît Cœuré:  Interview with Radio Classique
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, 
conducted by Nicolas Pierron on 23 January 2017
ENGLISH
OTHER LANGUAGES (1) +
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20/01/2017
Benoît Cœuré:  Interview with CNBC
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Julia Chatterley in Davos on 20 January 2017
31/12/2016
Benoît Cœuré:  Interview with Börsen-Zeitung
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Mark Schrörs and Detlef Fechtner on 20 December and published on 31 December 2016
ENGLISH
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All interviews

16/02/2017
Consolidated balance sheet of the Eurosystem as at 31 December 2016
10/02/2017
Working paper no. 2020: High frequency trading and fragility, by Giovanni Cespa, Xavier Vives
10/02/2017
Working paper no. 2019: The impact of constrained monetary policy on fiscal multipliers on output and inflation, by Tilman Bletzinger, Magdalena Lalik
10/02/2017
Working paper no. 2018: Exchange rate prediction redux: new models, new data, new currencies, by Yin-Wong Cheung, Menzie D. Chinn, et al.
10/02/2017
Working paper no. 2017: Inside asset purchase programs: the effects of unconventional policy on banking competition, by Michael Koetter, Natalia Podlich, et al.

All publications

15/02/2017
Opinion on payment accounts (CON/2017/2)
Cyprus, 
ENGLISH
OTHER LANGUAGES (1) +
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13/02/2017
Decision of the ECB of 10 February 2017 laying down the principles for providing performance feedback to national competent authority sub-coordinators and repealing Decision (EU) 2016/3 (ECB/2017/6)
03/02/2017
Opinion on liquidity support measures, a precautionary recapitalisation and other urgent provisions for the banking sector (CON/2017/1)
Italy, 
ENGLISH
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20/01/2017
Decision (EU) 2017/101 of the ECB of 11 January 2017 amending Decision ECB/2014/40 on the implementation of the third covered bond purchase programme (ECB/2017/2)
20/01/2017
Decision (EU) 2017/100 of the ECB of 11 January 2017 amending Decision (EU) 2015/774 on a secondary markets public sector asset purchase programme (ECB/2017/1)

All legal acts

3 February 2017SURVEY

Help us improve the ECB website

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EXPLAINER

Does the ECB make a profit?

The quick answer is: usually, yes. In 2016 the ECB made a profit of more than €1 billion. But where this money goes might come as a surprise – it can even benefit you. How? Find out here.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.40 %
Effective from 16 March 2016

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.0650
JPY Japanese yen 120.08
GBP Pound sterling 0.85720
CHF Swiss franc 1.0637
Last update: Friday, 17 February 2017 Euro foreign exchange rates

Multimedia

  • 19 January 2017 - ECB Press Conference

  • 15 years of the euro

  • The new €50 banknote

  • Vítor Constâncio interview: The Financial Stability Review November 2016

  • ECB European Cultural Days - Germany 2016 - preview

  • Five facts about the new €50

  • Inside the Asset Purchase Programme

  • Discover the New €50 Banknote

  • ECB President Mario Draghi explains TLTRO II

  • Discover the new 20 euro banknote

  • Living in Frankfurt. Working for the ECB

  • New ECB premises: time-lapse video of the construction process

  • Collateral management - the role of the Eurosystem

  • TARGET balances in 8 minutes

  • ECB and the Eurosystem explained in 3 min.

  • 19 January 2017 ECB Press Conference

  • 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

  • Financial integration in Europe - cover image

    Financial integration in Europe

  • ECB statistics: a brief overview - cover image

    ECB statistics: a brief overview

  • Progress through crisis? Conference for the 20th anniversary of the establishment of the EMI - cover image

    Progress through crisis? Conference for the 20th anniversary of the establishment of the EMI

  • 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

  • The international role of the euro, June 2016 - cover image

    The international role of the euro, June 2016

  • 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