• Interview
    Monetary policy can’t do it alone

    Monetary policy will not solve the problems of low structural growth and unemployment, says Executive Board member Peter Praet to Público newspaper. We need a comprehensive policy response, but our decisions do not depend on the actions of others.

  • Interview
    Low growth: G7 must act together

    G7 countries need to address future challenges together, with a mix of structural reforms and monetary and fiscal policies, says Executive Board member Benoît Cœuré. Fiscal policy discussions should not just consider increasing spending, but also how to improve the quality of the budget.

19 May 2016ACCOUNT

Account of monetary policy meeting published

The Governing Council concluded that the monetary policy stance would remain unchanged, according to the account of its April monetary policy meeting. The measures support economic recovery and a return of inflation rates towards levels below, but close to, 2%.

24 May 2016EVENT

Meet ECB staff at Europe Day event

The ECB will be celebrating Europe Day and the founding of the European Union at the Consilium in Brussels on Saturday, 28 May 2016. Please come and meet us. You can take part in some entertaining and informative activities and learn more about our work.

24/05/2016
Euro area systemic stress contained despite bouts of global financial market turbulence
24/05/2016
Statistical press release: Euro area financial vehicle corporation statistics
24/05/2016
Statistical press release: Euro area investment fund statistics
20/05/2016
Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
May 2016
20/05/2016
Statistical press release: Euro area monthly balance of payments (March 2016)
19/05/2016
Account of the monetary policy meeting of the Governing Council of the European Central Bank
held in Frankfurt am Main on Wednesday and Thursday, 20-21 April 2016
13/05/2016
Statistical press release: Euro area securities issues statistics
04/05/2016
ECB ends production and issuance of €500 banknote
03/05/2016
ECB publishes legal acts relating to the second series of targeted longer-term refinancing operations (TLTRO-II)
03/05/2016
Statistical press release: MFI interest rate statistics

All press releases

11/05/2016
Benoît Cœuré:  Les décisions de la BCE depuis la crise : un tour d’horizon
Presentation by Benoît Cœuré, Member of the Executive Board of the ECB, 
at La Cour des comptes, 
Paris, 11 mai 2016
09/05/2016
Vítor Constâncio:  The outlook for the Global Economy
Remarks by Vítor Constâncio, Vice-President of the ECB, 
at City Week, London, 9 May 2016
03/05/2016
Benoît Cœuré:  Government bond markets in a changing environment
Keynote address by Benoît Cœuré, Member of the Executive Board of the ECB, 
at the Government Borrowers Forum, 
Paris, 3 May 2016

Summary

Government bond markets in a changing environment

Keynote address by Benoit Coeuré, Member of the Executive Board of the ECB, at the Government Borrowers Forum, Paris, 3 May 2016

In a keynote address at the Government Borrowers Forum, in Paris, ECB Board member Benoît Coeuré analyses the impact of recent policy interventions on market functioning. His remarks focus on unconventional monetary policy measures, regulatory developments and private-public partnership in financial market reforms. «Policy interventions are having an impact on market functioning today» he says, but in the case of the ECB’s monetary policy, «ongoing monitoring so far does not suggest impairments to the price discovery process» and «our monetary policy has not suppressed market discipline». The new market environment is more constrained, but also more resilient. «At the same time, more safety is not a substitute but a complement to well capitalised banks and sound public finances» he concludes.

02/05/2016
Mario Draghi:  Addressing the causes of low interest rates
Introductory speech by Mario Draghi, President of the ECB, 
held at a panel on “The future of financial markets: A changing view of Asia” at the Annual Meeting of the Asian Development Bank, 
Frankfurt am Main, 2 May 2016
ENGLISH
OTHER LANGUAGES (5) +
02/05/2016
Sabine Lautenschläger:  The euro – idea and reality
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, 
at the Europa Forum Luzern, 
Luzern, 2 May 2016
ENGLISH
OTHER LANGUAGES (1) +
Select your language

All speeches

23/05/2016
Peter Praet:  Interview with Público
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Sérgio Anibal, published on 23 May 2016.
19/05/2016
Benoît Cœuré:  Interview with The Yomiuri Shimbun
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Tadashi Isozumi and published on 20 May 2016, in Japan.
ENGLISH
OTHER LANGUAGES (1) +
Select your language
19/05/2016
Benoît Cœuré:  Interview with Risk Magazine
Interview with Benoît Cœuré, Member of the Executive Board of the ECB and Chairman of the Committee on Payments and Market Infrastructures (CPMI), 
conducted by Cécile Sourbes on 10 May and published on 19 May 2016
05/05/2016
Yves Mersch:  Bares bleibt Wahres
Gastbeitrag von Yves Mersch, Mitglied des Direktoriums der EZB, 
Spiegel Online, 5. Mai 2016
01/05/2016
Benoît Cœuré:  People are not only savers
Opinion piece from Benoît Cœuré, Member of the Executive Board of the ECB, 
for the Frankfurter Allgemeine Sonntagszeitung, 1 May 2016
ENGLISH
OTHER LANGUAGES (1) +
Select your language

All interviews

25/05/2016
Working paper no. 1910: Waking up from the American dream: on the experience of young Americans during the housing boom of the 2000s, by Luc Laeven, Alexander Popov
25/05/2016
Working paper no. 1909: On domestic demand and export performance in the euro area countries: does export concentration matter?, by Paulo Soares Esteves, Elvira Prades
24/05/2016
Working paper no. 1908: Unemployment risk and over-indebtedness, by Philip Du Caju, François Rycx, et al.
24/05/2016
Working paper no. 1907: Estimating the top tail of the wealth distribution, by Philip Vermeulen
24/05/2016
Financial Stability Review

All publications

20/05/2016
Decision of the ECB of 18 May 2016 amending Decision ECB/2014/6 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks (ECB/2016/14)
20/05/2016
Regulation of the ECB of 18 May 2016 on the collection of granular credit and credit risk data (ECB/2016/13)
19/05/2016
Opinion on an integrated data model regulation (CON/2016/29)
Austria, 
ENGLISH
OTHER LANGUAGES (1) +
Select your language
03/05/2016
Opinion on the resolution and winding-up of banks (CON/2016/28)
Slovenia, 
ENGLISH
OTHER LANGUAGES (1) +
Select your language
29/04/2016
Opinion on a proposal for a regulation amending Regulation (EU) No 600/2014 on markets in financial instruments, Regulation (EU) No 596/2014 on market abuse and Regulation (EU) No 909/2014 on improving securities settlement in the European union and on central securities depositories as regards certain dates, and a proposal for a directive amending Directive 2014/65/EU on markets in financial instruments as regards certain dates (CON/2016/27)

All legal acts

24 May 2016FINANCIAL STABILITY

Euro area systemic stress contained

The financial system has showed resilience against rising vulnerabilities stemming from emerging economies and financial markets in the past six months, says the Financial Stability Review. Banks are building resilience amid challenges to profitability and high levels of non-performing assets.

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 icon arrow up 1.1168
JPY Japanese yen icon arrow up 122.93
GBP Pound sterling icon arrow up 0.75970
CHF Swiss franc icon arrow up 1.1075
Last update: Thursday, 26 May 2016 Euro foreign exchange rates

Multimedia

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