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  • Interview
    Climate change: the role of a central bank

    Climate change has an impact on price stability, says President Christine Lagarde in an interview with the Financial Times. She stressed that we at the ECB will explore every avenue available to combat its effects, within our mandate.

Our response to the coronavirus pandemic
7 July 2020 INTERVIEW

Taking savers’ concerns seriously

We take the effects of our monetary policy on pension funds and savings very seriously, says Executive Board member Isabel Schnabel to the Dutch newspaper NRC Handelsblad. But interest rates are mainly driven by long-term economic and societal trends, not by central banks.

2 July 2020 SPEECH

In the spirit of European cooperation

The ECB is supporting the Deutsche Bundesbank in its cooperation with the German authorities, Executive Board member Yves Mersch tells the Salzburg Global Finance Forum. We see no obstacle to the Bundesbank continuing its purchases under the public sector purchase programme (PSPP) after 5 August.

07/07/2020
Fabio Panetta: Unleashing the euro’s untapped potential at global level
Introductory remarks by Fabio Panetta, Member of the Executive Board of the ECB, Meeting with Members of the European Parliament
02/07/2020
The ECB’s monetary policy during the coronavirus crisis – necessary, suitable and proportionate
Presentation by Isabel Schnabel, Member of the Executive Board of the ECB, at the Berlin Economic Roundtable, 2 July 2020
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02/07/2020
Yves Mersch: In the spirit of European cooperation
Introductory remarks by Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Salzburg Global webinar
01/07/2020
Fabio Panetta: The price of uncertainty and uncertainty about prices: monetary policy in the post-COVID-19 economy
Keynote speech by Fabio Panetta at a Capital Markets webinar organised by the European Investment Bank and the European Stability Mechanism
27/06/2020
Isabel Schnabel: The ECB’s monetary policy during the coronavirus crisis – necessary, suitable and proportionate
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Petersberger Sommerdialog, 27 June 2020
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Slides
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All speeches

08/07/2020
Christine Lagarde: Interview with Financial Times
Video interview with Christine Lagarde, President of the ECB, conducted by Roula Khalaf on 7 July 2020 and posted on 8 July 2020
07/07/2020
Isabel Schnabel: Interview with NRC Handelsblad
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Mark Beunderman on 1 July 2020
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01/07/2020
Philip R. Lane: Interview with Reuters news agency
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Balázs Korányi, Francesco Canepa and Frank Siebelt
01/07/2020
Luis de Guindos: Interview with La Stampa
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Marco Zatterin on 26 June 2020 and published on 1 July 2020
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22/06/2020
Luis de Guindos: Interview with Der Spiegel
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Tim Bartz and Stefan Kaiser on 15 June and published on 22 June 2020
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All interviews

28/06/2020
Isabel Schnabel: Necessary, suitable and proportionate
Blog post by Isabel Schnabel, Member of the Executive Board of the ECB, in Welt am Sonntag

Summary

Our crisis measures respond to the worst economic crisis in the post-war period, says Executive Board member Isabel Schnabel. They are necessary, suitable and proportionate and benefit all European citizens.

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22/06/2020
Philip R. Lane: The market stabilisation role of the pandemic emergency purchase programme
Blog post by Philip R. Lane, Member of the Executive Board of the ECB

Summary

Evidence shows that the policies adopted by the ECB in mid-March, including the pandemic emergency purchase programme (PEPP) and other liquidity-easing measures, have contributed to stabilising markets, writes Chief Economist Philip R. Lane.

12/06/2020
Fabio Panetta: Sharing and strengthening the euro’s privilege
Blog post by Fabio Panetta, Member of the Executive Board of the ECB

Summary

The goals of boosting the euro’s global standing and sharing its advantages more evenly are one and the same, writes Executive Board member Fabio Panetta. Through the right mix of European fiscal and monetary policy, we can build a better functioning Monetary Union that achieves both of these goals.

05/06/2020
Philip R. Lane: Expanding the pandemic emergency purchase programme
Blog post by Philip R. Lane, Member of the Executive Board of the ECB

Summary

Two main factors called for further policy action, writes Chief Economist Philip R. Lane. First, the pandemic-related negative shock to inflation poses a threat to medium-term price stability. Second, while conditions in financial markets have stabilised substantially, the situation remains fragile.

01/05/2020
Philip R. Lane: The monetary policy response to the pandemic emergency
Blog post by Philip R. Lane, Member of the Executive Board of the ECB

Summary

In an ECB Blog post, Chief Economist Philip R. Lane discusses the macroeconomic scenarios developed by ECB staff to illustrate the possible impact of the pandemic. He also explains current monetary policy and outlines the approach to setting the future course of monetary policy.

All blog posts

1 July 2020 SPEECH

Monetary policy in the post-coronavirus economy

Downside risks are prominent, but a pre-emptive and decisive policy response has put us in a much better position to avoid more severe scenarios, said Executive Board member Fabio Panetta at the Capital Markets webinar organised by the EIB and the ESM.

PODCAST

Banks in the coronavirus crisis

What challenges does the coronavirus pandemic pose for banks? What role can they play in helping the economy deal with this crisis? Our host Michael Steen discusses these questions and more with ECB Supervisory Board Chair Andrea Enria.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.50 %
Effective from 18 September 2019

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.1342
JPY Japanese yen 121.67
GBP Pound sterling 0.89655
CHF Swiss franc 1.0634
Last update: Thursday, 09 July 2020 Euro foreign exchange rates

Multimedia

  • ECB Governing Council Press Conference - 04 June 2020

    ECB Governing Council Press Conference - 04 June 2020

  • Join a Youth Dialogue with Christine Lagarde

    Join a Youth Dialogue with Christine Lagarde

  • ECB Governing Council Press Conference - 30 April 2020

    ECB Governing Council Press Conference - 30 April 2020

  • Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

    Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

  • The ECB explains: crypto-assets

    The ECB explains: crypto-assets

  • ECB Forum on Central Banking 2019

    ECB Forum on Central Banking 2019

  • Download the ECB Art App

    Download the ECB Art App

  • Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

    Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

  • Euro Banknotes – Our Money, Our Journey

    Euro Banknotes – Our Money, Our Journey

  • Unveiling of the New 100 and 200 Euro Banknotes

    Unveiling of the New 100 and 200 Euro Banknotes

  • ECB Press Conference - 04 June 2020

  • Youth Dialogue with Christine Lagarde - 27 May 2020

  • ECB Press Conference - 30 April 2020

  • New signature for euro banknotes - 28 November 2019

  • Christine Lagarde's Keynote Speech - European Banking Congress 2019

  • Farewell President Draghi - 28 October 2019

  • ECB Conference on Gender and Career Progression - 21 October 2019

  • ECB Press Conference - 24 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

  • European Cultural Days -10 October 2019

  • The international role of the euro, June 2018 - cover image

    The international role of the euro, June 2018

  • Financial integration in Europe, May 2018 - cover image

    Financial integration in Europe, May 2018

  • Price and wage-setting in advanced economies - cover image

    Price and wage-setting in advanced economies

  • ESCB Legal Conference 2018 - cover image

    ESCB Legal Conference 2018

  • 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

  • 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