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    ECB President Mario Draghi and Vice-President Vítor Constâncio explain the Governing Council's monetary policy decisions and answer questions from journalists at today’s press conference.

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    Press release: Monetary policy decisions
17 January 2017PRESS RELEASE

ECB measures continue to support bank lending

Demand continues to increase for all loan categories, according to the January bank lending survey, while borrowing conditions for businesses are broadly stabilising. The Eurosystem’s targeted longer-term refinancing operations continue to support bank lending, the survey shows.

31 December 2016INTERVIEW

Adjustment, not exit

The decision to reduce the asset purchases from April 2017 was an adjustment and not the start of an exit, Executive Board member Benoît Cœuré tells German daily Börsen-Zeitung. But as monetary policy cannot always be as accommodative as today, Member States and the euro area need reforms.

19/01/2017
Monetary policy decisions
19/01/2017
Statistical press release: Euro area monthly balance of payments (November 2016)
17/01/2017
Results of the January 2017 euro area bank lending survey
13/01/2017
Statistical press release: Euro area households and non-financial corporations: 3rd Quarter 2016
13/01/2017
Statistical press release: Euro area quarterly balance of payments and
international investment position 
(third quarter of 2016)
12/01/2017
Account of the monetary policy meeting
of the Governing Council of the European Central Bank, 
held in Frankfurt am Main on Wednesday and Thursday, 7-8 December 2016
11/01/2017
Statistical press release: Euro area securities issues statistics
06/01/2017
ECB statement on Luc Coene, Member of the Supervisory Board and former Member of the Governing Council
04/01/2017
Statistical press release: MFI interest rate statistics
23/12/2016
Results of the second wave of the Eurosystem’s Household Finance and Consumption Survey

All press releases

16/01/2017
Yves Mersch:  Digital Base Money: an assessment from the ECB’s perspective
Speech by Yves Mersch, Member of the Executive Board of the ECB, 
at the Farewell ceremony for Pentti Hakkarainen, Deputy Governor of Suomen Pankki – Finlands Bank, 
Helsinki, 16 January 2017
ENGLISH
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06/01/2017
Yves Mersch:  2017 – a decisive year for innovative retail payment services
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, 
at the French Payments Committee conference on “Technological innovations in payments and beyond”, Banque de France, Paris, 6 January 2017
ENGLISH
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16/12/2016
Vítor Constâncio:  Stijn van Nieuwerburgh’s contribution to macroeconomics and finance
Speech by Vítor Constâncio, Vice-President of the ECB, at the ceremony marking the award of the Germán Bernácer Prize for Promoting Economic Research in Europe to Stijn van Nieuwerburgh, Madrid, 16 December 2016
08/12/2016
Mario Draghi:  Introductory statement to the press conference (with Q&A)
Mario Draghi, President of the ECB, 
Vítor Constâncio, Vice-President of the ECB
Frankfurt am Main, 8 December 2016
06/12/2016
Yves Mersch:  Distributed Ledger Technology: role and relevance of the ECB
Speech by Yves Mersch, Member of the Executive Board of the ECB, 
22nd Handelsblatt Annual Conference Banken-Technologie, 6 December 2016
ENGLISH
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All speeches

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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20/12/2016
Peter Praet:  Interview with the Telegraaf
Interview with Peter Praet, Member of the Executive Board of the ECB, 
Conducted by: Martin Visser and Dorinde Meuzelaar on 12 December, published on 20 December 2016
ENGLISH
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14/12/2016
Peter Praet:  Interview with Die Zeit
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Lisa Nienhaus and Mark Schieritz on 12 December and published on 14 December 2016
ENGLISH
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13/12/2016
Vítor Constâncio:  Interview with Bankfokus
Interview with Vítor Constâncio, Vice-President of the ECB, conducted by Pär Krause and published on 13 December 2016
ENGLISH
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12/12/2016
Benoît Cœuré:  Q&A on Twitter
Interview on Twitter with Benoît Cœuré, Member of the Executive Board of the ECB, conducted and published on 12 December 2016

All interviews

17/01/2017
Manual on MFI interest rate statistics, January 2017
11/01/2017
Letter from the ECB President to Ms Pervenche Berès, MEP, on the legal framework for central counterparties
ENGLISH
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11/01/2017
Letter from the ECB President to Mr Enrique Calvet Chambon, MEP, on monetary policy
02/01/2017
CCBM procedures for Eurosystem counterparties
02/01/2017
CCBM information for counterparties - Summary of legal instruments used in the euro area

All publications

12/01/2017
Decision of the ECB of 11 January 2017 amending Decision (EU) 2016/948 on the implementation of the corporate sector purchase programme (ECB/2017/4)
12/01/2017
Decision of the ECB of 11 January 2017 amending Decision (EU) 2015/774 on a secondary markets public sector asset purchase programme (ECB/2017/1)
12/01/2017
Decision of the ECB of 11 January 2017 amending Decision (EU) 2015/5 on the implementation of the asset-backed securities purchase programme (ECB/2017/3)
12/01/2017
Decision 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)
28/12/2016
Opinion on a Belgian draft law on the oversight of payment transaction processors (CON/2016/61)
Belgium, 

All legal acts

16 January 2017 MONETARY POLICY

Press conference on Thursday, 19 January 2017

ECB President Mario Draghi and Vice-President Vítor Constâncio explain the Governing Council’s monetary policy decisions and answer questions from journalists.

The press conference starts at 14:30 CET.




EXPLAINER

Why is the ECB independent?

The ECB’s political independence is a cornerstone of the euro area’s monetary system. Find out why the ECB has been set up as an independent institution, how its independence is safeguarded and what the ECB does to ensure accountability.

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 1.0664
JPY Japanese yen 121.05
GBP Pound sterling 0.86833
CHF Swiss franc 1.0706
Last update: Wednesday, 18 January 2017 Euro foreign exchange rates

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