The European Central Bank (ECB) is today publishing a special edition of the ECB’s Monthly Bulletin to mark the 10th anniversary of the ECB and the related anniversary of the Eurosystem and the European System of Central Banks. This edition looks back at the ECB’s work and achievements over the past ten years. It also considers the challenges that the ECB and the euro area face as they enter their second decade.
In the Foreword to this Monthly Bulletin, Jean-Claude Trichet, President of the ECB, says: “For nearly ten years, price stability has been broadly achieved despite the fact that strong global commodity price increases – on which monetary policy has no direct influence – have affected Europe and the rest of the world, leading to an average inflation rate that has been slightly above 2% since the launch of the euro. Stable prices are essential.”
Jürgen Stark, member of the ECB’s Executive Board, chaired the editorial committee which produced this edition of the Monthly Bulletin. It can be obtained on the ECB’s website http://www.ecb.europa.eu.
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