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Our response to the coronavirus pandemic
26 October 2020 MONETARY POLICY

Press conference on Thursday, 29 October 2020

ECB President Christine Lagarde and Vice-President Luis de Guindos explain the Governing Council’s monetary policy decisions and answer questions from journalists.

The press conference starts at 14:30 CET.

Results of October bank lending survey
27 October 2020 PUBLICATION

Results of October bank lending survey

Credit standards for loans to firms and households tightened, mainly reflecting credit risk concerns due to the coronavirus pandemic. Firms’ loan demand moderated, indicating lower emergency liquidity needs. The ECB’s measures have had an easing impact on bank lending conditions and supported bank lending volumes.

22/10/2020
Fabio Panetta: On the edge of a new frontier: European payments in the digital age
Keynote speech by Fabio Panetta, Member of the Executive Board of the ECB, at the ECB Conference “A new horizon for pan-European payments and digital euro”
English
21/10/2020
Luis de Guindos: Loukas Karabarbounis’s contribution to research on the interaction between labour and capital market imperfections and macroeconomic outcomes
Remarks by Luis de Guindos, Vice-President of the ECB, on the occasion of the award of the Bernácer Prize to Professor Loukas Karabarbounis
English
21/10/2020
Philip R. Lane: International flows and the pandemic: evidence from the euro area
Presentation by Philip R. Lane, Member of the Executive Board of the ECB, at the 1st Joint Workshop of Bank of England, Banque de France, IMF and OECD
English
19/10/2020
Yves Mersch: The ECB’s monetary policy amid the pandemic
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 MNI Connect Roundtable
English
18/10/2020
Christine Lagarde: Remarks at the G30 International Banking Seminar
Contribution by Christine Lagarde, President of the ECB, during the session “Rebuilding and Sustaining Growth”
English

All speeches

19/10/2020
Christine Lagarde: Interview with Le Monde
Interview with Christine Lagarde, President of the ECB, conducted by Marie Charrel and Eric Albert
English
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FrançaisFR
17/10/2020
Fabio Panetta: Interview with Kathimerini
Interview with Fabio Panetta, Member of the Executive Board of the ECB, conducted by Eirini Chrysolora
English
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EλληνικάEL ItalianoIT
11/10/2020
Philip R. Lane: Interview with Wall Street Journal
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Tom Fairless on 8 October
English
10/10/2020
Isabel Schnabel: The ECB’s independence in times of mounting public debt
Contribution by Isabel Schnabel, Member of the Executive Board of the ECB, Frankfurter Allgemeine Zeitung
English
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DeutschDE
07/10/2020
Christine Lagarde: Written interview with Harvard International Review
Interview with Christine Lagarde, President of the ECB
English

All interviews

20/10/2020
Isabel Schnabel: Don’t take it for granted: the value of high-quality data and statistics for the ECB’s policymaking
Blog post by Isabel Schnabel, Member of the Executive Board of the ECB

Summary

High-quality data and statistics provide indispensable input for sound policy decisions, including at the ECB, writes Executive Board member Isabel Schnabel. Today’s World Statistics Day reminds us of the importance of data we can trust.

English
02/10/2020
Fabio Panetta: We must be prepared to issue a digital euro
Blog post by Fabio Panetta, Member of the Executive Board of the ECB

Summary

We should be ready to issue a digital euro if and when it is necessary, writes Executive Board member Fabio Panetta. The euro is a currency that Europeans trust. We need to make sure that it is fit for the future.

English
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11/09/2020
Philip R. Lane: The outlook for the euro area
Blog post by Philip R. Lane, Member of the Executive Board of the ECB

Summary

Our current measures are providing crucial support to the economic recovery in the euro area, writes Chief Economist Philip R. Lane. But there is no room for complacency as inflation remains far below the aim and risks continue to be tilted to the downside.

English
02/09/2020
Luis de Guindos, Fabio Panetta, Isabel Schnabel: Europe needs a fully fledged capital markets union – now more than ever
Blog post by Luis de Guindos, Vice-President of the ECB, and Fabio Panetta and Isabel Schnabel, Members of the Executive Board of the ECB

Summary

The coronavirus crisis makes progress on capital markets union even more important, write Luis de Guindos, Fabio Panetta and Isabel Schnabel. In the light of the European Commission’s forthcoming Action Plan, they outline priority areas for reform to foster European capital markets.

English
19/08/2020
Fabio Panetta, Isabel Schnabel: The provision of euro liquidity through the ECB’s swap and repo operations
Blog post by Fabio Panetta and Isabel Schnabel, Members of the Executive Board of the ECB

Summary

The ECB’s swap and repo lines are essential stabilising tools in the coronavirus crisis. In a joint Blog post, Executive Board members Fabio Panetta and Isabel Schnabel explain how these tools reduce funding risks, prevent financial contagion and support the euro’s use in global transactions.

English

All blog posts

Recovery risks losing momentum
19 October 2020 INTERVIEW

Recovery risks losing momentum

The recovery since the summer has been uneven, uncertain and incomplete, President Christine Lagarde tells Le Monde. But the options in our monetary policy toolbox have not been exhausted. She also discusses the EU’s recovery plan and the broader impact of the crisis in Europe.

Digital euro: have your say!
PUBLIC CONSULTATION

Digital euro: have your say!

Like the euro we already use every day, the design of a digital euro should meet the needs of a broad range of users. That’s why we want to hear the views of the public and of all interested stakeholders on the benefits and challenges of issuing a digital euro and on its possible design.

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 1.1727
JPY Japanese yen 122.36
GBP Pound sterling 0.90662
CHF Swiss franc 1.0693
Last update: Wednesday, 28 October 2020 Euro foreign exchange rates

Financial stability

Market operations

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