The Eurosystem – which consists of the ECB and the national central banks of the euro area – carries out a number of tasks to maintain price stability.
Our main aim is to maintain price stability, i.e. to safeguard the value of the euro. Price stability is essential for economic growth and job creation – two of the European Union’s objectives – and it represents the most important contribution monetary policy can make in that area.
The Eurosystem is responsible for:
- defining and implementing monetary policy
- conducting foreign exchange operations
- holding and managing the euro area’s foreign currency reserves
- promoting the smooth operation of payment systems
The ECB carries out specific tasks in the areas of banking supervision, banknotes, statistics, macroprudential policy and financial stability as well as international and European cooperation.