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International Youth Day

Giving young people a voice

On 12 August we celebrated International Youth Day. Involving young people in policymaking is essential for the future of Europe. That’s why we offer various initiatives for young Europeans to speak to policymakers and to freely and creatively express themselves.
- Read more about our youth initiatives

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Press releases1
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Interviews
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Legal acts

9 August 2018ECONOMIC BULLETIN

ECB publishes Economic Bulletin
Issue 5, 2018

The Economic Bulletin presents the economic and monetary information which forms the basis for the Governing Council’s policy decisions.

It is released eight times a year, two weeks after each monetary policy meeting.

Economic Bulletin

8 August 2018ECONOMIC BULLETIN

Consumer spending is supporting the economy

Consumers in the euro area have been spending more since 2013, largely owing to rising household income and wealth, and this has supported the growth of the euro area economy.

Rising income is in part due to the ECB’s monetary policy, which has helped to reduce unemployment.

Economic Bulletin article

14/08/2018: Consolidated financial statement of the Eurosystem as at 10 August 2018
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Commentary
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10/08/2018: Euro Area Securities Issues Statistics: June 2018
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07/08/2018: Consolidated financial statement of the Eurosystem as at 3 August 2018
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Commentary
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06/08/2018: ECB seeks feedback on draft ECB Regulation on money market statistics
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01/08/2018: Euro area bank interest rate statistics: June 2018
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All press releases

26/07/2018: Mario Draghi, Luis de Guindos: Introductory statement to the press conference (with Q&A)
Mario Draghi, President of the ECB, Luis de Guindos, Vice-President of the ECB, Frankfurt am Main, 26 July 2018
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL EspañolES Eesti keelET SuomiFI FrançaisFR HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV
10/07/2018: Sabine Lautenschläger: 20 years of ESCB statistics: Past achievements and future challenges
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, Ninth ECB Statistics Conference, "20 years of ESCB statistics: What's next?", Frankfurt, 10 July 2018
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09/07/2018: Mario Draghi: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament
Introductory Statement by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 9 July 2018
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Transcript of the hearing
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08/07/2018: Benoît Cœuré: Asserting Europe’s leadership
Panel remarks by Benoît Cœuré, Member of the Executive Board of the ECB, Les rencontres économiques d’Aix-en-Provence, 8 July 2018
ENGLISH
05/07/2018: Yves Mersch: Deepening EMU – political integration and economic convergence
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the conference on “Economic and Monetary Union — Deepening and Convergence”, Linz, 5 July 2018
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All speeches

05/08/2018: Sabine Lautenschläger: Interview with Welt am Sonntag
Interview with Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, conducted by Anja Ettel and Anne Kunz on 30 July 2018 and published on 5 August 2018
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DeutschDE
09/07/2018: Benoît Cœuré: Interview with Bloomberg TV
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Caroline Connan and broadcast on 9 July 2018
ENGLISH
25/06/2018: Benoît Cœuré: Interview with Le Figaro
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Fabrice Nodé-Langlois and published on 25 June 2018
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FrançaisFR
23/06/2018: Peter Praet: Interview with Expresso
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by João Silvestre on 18 June 2018 and published on 23 June 2018
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15/06/2018: Benoît Cœuré: Interview with Europe 1
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Patrick Cohen on 15 June 2018 and broadcast on 15 June 2018
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FrançaisFR

All interviews

09/08/2018: Economic Bulletin Issue 5, 2018
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09/08/2018: Growth synchronisation in euro area countries
ENGLISH
Economic Bulletin Issue 5, 2018
09/08/2018: Cyclical developments in the euro area current account
ENGLISH
Economic Bulletin Issue 5, 2018
09/08/2018: Imbalances in China: is growth in peril from a housing market downturn?
ENGLISH
Economic Bulletin Issue 5, 2018
09/08/2018: The evolution of the ECB’s accountability practices during the crisis
ENGLISH
Economic Bulletin Issue 5, 2018
09/08/2018: Developments in mortgage loan origination in the euro area
ENGLISH
Economic Bulletin Issue 5, 2018
08/08/2018: Private consumption and its drivers in the current economic expansion
ENGLISH
Economic Bulletin Issue 5, 2018
07/08/2018: TIBER-EU Framework - Services Procurement Guidelines
ENGLISH
07/08/2018: The role of wages in the pick-up of inflation
ENGLISH
Economic Bulletin Issue 5, 2018
07/08/2018: Measuring fragmentation in the euro area unsecured overnight interbank money market
ENGLISH
Economic Bulletin Issue 5, 2018

All publications

10/08/2018: Decision (EU) [2018/XX] of the ECB of 10 August 2018 on the eligibility of marketable debt instruments issued or fully guaranteed by the Hellenic Republic and repealing Decision (EU) 2016/1041 (ECB/2018/21)
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EλληνικάEL
27/07/2018: Opinion on the reciprocal implementation of macroprudential tools in Luxembourg (CON/2018/34)
Luxembourg,
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24/07/2018: Recommendation of the ECB of 6 July 2018 to the Council of the European Union on the external auditors of Banka Slovenije (ECB/2018/18)
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18/07/2018: Opinion on a proposal for a regulation of the European Parliament and of the Council on the law applicable to the third-party effects of assignments of claims (CON/2018/33)
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16/07/2018: Opinion on a proposal for a regulation on minimum loss coverage for non-performing exposures (CON/2018/32)
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All legal acts

13 August 2018PUBLIC CONSULTATION

Public consultation on candidate euro risk-free rates

A total of 66 market participants responded to the first public consultation by the working group on euro risk-free rates on the assessment of candidate rates. The vast majority of respondents agreed that ESTER would be the most suitable candidate.

EXPLAINER

How the ECB's policy has reduced inequality

The ECB’s monetary policy measures since 2014 have not only helped growth and eliminated the risk of deflation – they have also reduced overall inequality in the euro area, new research confirms. Take a look at our explainer video to find out how.

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Interest rates

Marginal lending facility	0.25 %
Main refinancing operations (fixed rate)	0.00 %
Deposit facility	− 0.40 %

Effective from 16 March 2016

Past key ECB interest rates

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD	US dollar	1.1321
JPY	Japanese yen	125.67
GBP	Pound sterling	0.89130
CHF	Swiss franc	1.1289

Last update: Wednesday, 15 August 2018 Euro foreign exchange rates

Financial stability

Market operations

Multimedia

20 years of ESCB statistics: What's next?
20th anniversary – Staff testimonials / First Day at the ECB
ECB Forum on Central Banking 2018
How are Executive Board members chosen?
Interview with Vítor Constâncio. ECB Vice-President (2011 – 2018)
Financial Stability Review - May 2018
Vítor Constâncio interview on the Financial Stability Review - May 2018
How does the euro help Europeans do business?
What is ethical hacking?
Generation €uro Students' Award 2018
Communications challenges for policy effectiveness, accountability and reputation
Meeting the #EuroVideoChallenge finalists at the award ceremony
What is TARGET Instant Payment Settlement (TIPS)?
#ECBYouthDialogue - Dublin, Ireland
Highlights ECB Forum on Central Banking 2017
#ECBYouthDialogue - Lisbon 2017
Interview Vítor Constâncio on Financial Stability Review
EU Open Days - May 2017
Generation €uro Students' Award 2017
The new €50 banknote is now in circulation
How quantitative easing works
15 years of the euro
Inside the Asset Purchase Programme
ECB and the Eurosystem explained in 3 min.

Estonian Art Vernissage - 27 June 2018
ECB Forum on Central Banking - 18/20 June 2018
ECB Press Conference - 14 June 2018
EU Open Day - 5 May 2018
Joint Conference of the European Central Bank and the European Commission - 3 May 2018
ECB Press Conference - 26 April 2018
Generation €uro Students’ Award - 10 -11 April 2018
Luminale: Cross Hatch - 18 March 2018
ECB Press Conference - 8 March 2018
Central Bank Communications Conference - 14-15 November 2017
2017 #EuroVideoChallenge Award Ceremony in Lyon - 9 November 2017
European Cultural Days - 26 October 2017
ECB Press Conference - 26 October 2017
Inauguration ECB Visitor Centre – 4 October 2017
Sendung mit der Maus - 3 October 2017
#ECBYouthDialogue, Dublin - 22 September 2017
Opening of the Cyprus Contemporary Art Exhibition - 20 September 2017
ECB Press Conference - 7 September 2017
ECB Press Conference - 20 July 2017
#ECBYouthDialogue - 26 June 2017, Lisbon, Portugal
ECB Forum on Central Banking - Sintra, Portugal, 26-28 June 2017
ECB Press Conference - 8 June 2017, Tallinn
EU Open Day in Brussels - 6 May 2017
ECB Open Day for women in technical fields - 04 May 2017
ECB Press Conference - 27 April 2017
The new €50 banknote - 4 April 2017
Generation Euro Students' Award - 4/5 April 2017
Europe's digital integrated market - 31 January 2017
25 November 2016 UN Orange Day
17 October 2016 Cultural Days Opening Concert
3 October 2016 Türen Auf!
Unveiling of the new €50 banknote
Young Economists at ECB Forum on Central Banking
ECB Main Building
Luminale 2016 - ECB's illuminated buildings

The international role of the euro, June 2018
Financial integration in Europe, May 2018
ECB Legal Conference 2017 - Shaping a new legal order for Europe: a tale of crises and opportunities
ECB Forum on Central Banking - Investment and growth in advanced economies
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
The monetary policy of the ECB
The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field