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Our response to the coronavirus pandemic
31 July 2020 INTERVIEW

The first line of defence

The ECB acted swiftly as the first line of defence in a situation where the economy was giving way beneath our feet, says President Christine Lagarde as she accepts the Cauchoise de l'année award. She adds that institutions should think about their role in tackling climate change.

27 July 2020 INTERVIEW

A turning point for Europe

European institutions, including the ECB, have provided a European response to a European problem, Executive Board member Fabio Panetta tells La Repubblica. By acting together, we have generated a “European dividend”.

11/08/2020
Consolidated financial statement of the Eurosystem as at 7 August 2020
11/08/2020
Euro money market statistics: fourth maintenance period 2020
04/08/2020
Consolidated financial statement of the Eurosystem as at 31 July 2020
31/07/2020
Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
31/07/2020
Euro area pension fund statistics: first quarter of 2020

All press releases

22/07/2020
Luis de Guindos: Building the Financial System of the 21st Century
Speech by Luis de Guindos, Vice-President of the ECB, at the 18th annual symposium on “Building the Financial System of the 21st Century: an Agenda for Europe and the United States” organised by the Program on International Financial Systems and Harvard Law School (by videoconference)
17/07/2020
Isabel Schnabel: Never waste a crisis: COVID-19, climate change and monetary policy
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at a virtual roundtable on “Sustainable Crisis Responses in Europe” organised by the INSPIRE research network, 17 July 2020
16/07/2020
Christine Lagarde, Luis de Guindos: Introductory statement to the press conference (with Q&A)
Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB, Frankfurt am Main, 16 July 2020
13/07/2020
Fabio Panetta: Pursuing a successful path towards euro area accession
Introductory remarks by Fabio Panetta, Member of the Executive Board of the ECB, at a meeting of the Euro Accession Countries Working Group of the Committee on Economic and Monetary Affairs of the European Parliament
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

All speeches

31/07/2020
Christine Lagarde: Interview with Le Courrier Cauchois
Interview with Christine Lagarde, conducted by Dominique Lecoq and Marc Aubault on 29 July and published on 31 July
English
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27/07/2020
Fabio Panetta: Interview with La Repubblica
Interview with Fabio Panetta, Member of the Executive Board of the ECB, conducted by Tonia Mastrobuoni and published on 27 July 2020
English
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26/07/2020
Luis de Guindos: Interview with El Independiente
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Casimiro García Abadillo on 21 July 2020 and published on 26 July 2020
English
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23/07/2020
Christine Lagarde: Interview with The Washington Post
Video interview with Christine Lagarde, President of the ECB, conducted live by David Ignatius on 22 July 2020
21/07/2020
Isabel Schnabel: Interview with Expansión
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Andrés Stumpf on 16 July and published on 21 July 2020
English
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All interviews

04/08/2020
Philip R. Lane: The macroeconomic impact of the pandemic and the policy response
Blog post by Philip R. Lane, Member of the Executive Board of the ECB

Summary

While there has been some rebound in economic activity, the level of economic slack remains extraordinarily high and the outlook highly uncertain, writes Chief Economist Philip R. Lane. Progress in containing the virus will be central in determining the size and speed of the recovery.

23/07/2020
Christine Lagarde: Europe’s response to the crisis
Blog post by Christine Lagarde, President of the ECB

Summary

Learning the lessons of the past, Europe has moved towards a new model for dealing with crises, writes President Christine Lagarde in The ECB Blog. We have shown that we can act quickly, adapt our institutions and lay the groundwork for forging a new Europe.

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.

English
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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.

All blog posts

5 August 2020 STRATEGY REVIEW

We want your input!

Tell us what you think we should consider in our monetary policy strategy review. Share your thoughts, opinions and ideas via the ECB Listens Portal – available in all euro area languages – by the end of October 2020.

STRATEGY REVIEW

ECB Listens event to take place on 21 October

The ECB Listens event will be held online on 21 October 2020. President Christine Lagarde and Chief Economist Philip R. Lane will engage with civil society organisations as part of our ongoing strategy review.

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 1.1783
JPY Japanese yen 124.97
GBP Pound sterling 0.89843
CHF Swiss franc 1.0743
Last update: Tuesday, 11 August 2020 Euro foreign exchange rates

Multimedia

  • ECB Governing Council Press Conference - 16 July 2020

    ECB Governing Council Press Conference - 16 July 2020

  • 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

  • ECB Press Conference - 16 July 2020

  • 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

  • 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