European Central Bank

Speech

Recognising commitment to European unity

There are few who have done so much for Europe as Wolfgang Schäuble, says ECB President Christine Lagarde at an event in his honour in Berlin. He has reminded us to be confident in the resilience of our democratic institutions.
- Speech

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Speeches
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31 October 2019 PODCAST

Inflation: on porridge, prices and the new normal

What do porridge and prices have in common? How do music and video streaming affect inflation? Our host, Michael Steen, talks about these questions and more with expert guests Philip R. Lane, Christiane Nickel and Frank Smets. Listen, subscribe and let us know what you think!

The ECB Podcast

7 November 2019 ECONOMIC BULLETIN

ECB publishes Economic Bulletin
Issue 7, 2019

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

07/11/2019: Results of the September 2019 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)
English
06/11/2019: ECB publishes Consolidated Banking Data for end-June 2019
English
06/11/2019: Working group on euro risk-free rates issues high level recommendations for fallback provisions in contracts referencing EURIBOR
English
05/11/2019: Consolidated financial statement of the Eurosystem as at 1 November 2019
English
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Commentary
English
05/11/2019: Working group on euro risk-free rates issues recommendations to address accounting impact of euro risk-free rates transition
English

All press releases

11/11/2019: Yves Mersch: Opening remarks
Opening remarks by Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the “Getting to know the EU Institutions and Organisations in Luxembourg” event
English
06/11/2019: Luis de Guindos: Welcome remarks
Remarks by Luis de Guindos, Vice-President of the ECB, at the ECB Forum on Banking Supervision, Frankfurt am Main, 6 November 2019
English
04/11/2019: Christine Lagarde: Laudatory speech
Laudatory speech by Christine Lagarde, President of the ECB, for Dr Wolfgang Schäuble at the VdZ Publishers’ Night, Berlin, 4 November 2019
English
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DeutschDE
30/10/2019: Sabine Lautenschläger: A Call for Europe
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at lecture series “Mein Europa”, Heinrich-Heine University
English
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DeutschDE
28/10/2019: Mario Draghi: Farewell remarks
Remarks by Mario Draghi, President of the ECB, at the farewell event in his honour
English
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БългарскиBG ČeštinaCS DanskDA DeutschDE EλληνικάEL Eesti keelET SuomiFI FrançaisFR HrvatskiHR MagyarHU ItalianoIT LietuviųLT LatviešuLV MaltiMT NederlandsNL PolskiPL PortuguêsPT RomânăRO SlovenčinaSK SlovenščinaSL SvenskaSV EspañolES

All speeches

26/10/2019: Luis de Guindos: Interview with El País
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Luis Doncel on 11 October 2019
English
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EspañolES
17/10/2019: Benoît Cœuré: Interview with Bloomberg
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Jana Randow and Piotr Skolimowski on 10 October and published on 17 October 2019
English
09/10/2019: Luis de Guindos: Interview with Market News
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Luke Heighton on 7 October, and published on 9 October 2019
English
30/09/2019: Philip R. Lane: Q&A with Reuters
Q&A with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Daniel Burns on 27 September 2019 at Reuters Newsmaker in New York
English
30/09/2019: Mario Draghi: Interview with Financial Times
Interview with Mario Draghi, President of the ECB, conducted by Lionel Barber and Claire Jones on 25 June and 20 September, and published on 30 September 2019
English

All interviews

11/11/2019: Occasional paper no. 236: Overcapacities in banking: measurements, trends and determinants
English
07/11/2019: Economic Bulletin Issue 7, 2019
English
English
07/11/2019: Survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets (SESFOD) – September 2019
English

Survey guidelines
English
Detailed data series
English
07/11/2019: Goodbye EONIA, welcome €STR!
English
Economic Bulletin Issue 7, 2019
06/11/2019: Working paper no. 2327: Global value chain participation and exchange rate pass-through
English
06/11/2019: Report by the working group on euro risk-free rates with high-level recommendations for fallback provisions in contracts for cash products and derivatives transactions referencing EURIBOR
English
06/11/2019: Trends in central banks’ foreign currency reserves and the case of the ECB
English
Economic Bulletin Issue 7, 2019
05/11/2019: ECB Forum on Central Banking, June 2019
English
ECB Forum on Central Banking 2019
05/11/2019: Report by the working group on euro risk-free rates on the financial accounting implications of the transition from EONIA to the €STR and the introduction of €STR-based fallbacks for EURIBOR
English
05/11/2019: A stylised tracer for labour market cycles in the euro area based on assessments by corporate executives
English
Economic Bulletin Issue 7, 2019

All publications

05/11/2019: Decision (EU) 2019/1848 of the ECB of 29 October 2019 amending Decision ECB/2007/7 concerning the terms and conditions of TARGET2-ECB (ECB/2019/32)
ENGLISH
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31/10/2019: Opinion on a proposal for a regulation on a governance framework for the budgetary instrument for convergence and competitiveness for the euro area (CON/2019/37)
ENGLISH
25/10/2019: Opinion on amendments to the Law on Latvijas Banka (CON/2019/36)
Latvia,
ENGLISH
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LatviešuLV
23/10/2019: Opinion on a Council recommendation on the appointment of a member of the Executive Board of the ECB (CON/2019/35)
ENGLISH
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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
21/10/2019: Decision (EU) 2019/1743 of the ECB of 15 October 2019 on the remuneration of holdings of excess reserves and of certain deposits (recast) (ECB/2019/31)
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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

All legal acts

1 November 2019 EVENT

Welcome, President Christine Lagarde

We welcome Christine Lagarde as the new ECB President. We wish her all the best for her eight-year term of office.

EVENT

Generation €uro Students’ Award

Registration for the 2019-20 edition of the Generation €uro Students’ Award is now open. Secondary school students in 12 euro area countries can take part to win a trip to the ECB in Frankfurt.

Interest rates

Marginal lending facility	0.25 %
Main refinancing operations (fixed rate)	0.00 %
Deposit facility	− 0.50 %

Effective from 18 September 2019

Past key ECB interest rates

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD	US dollar	1.1041
JPY	Japanese yen	120.29
GBP	Pound sterling	0.85743
CHF	Swiss franc	1.0972

Last update: Monday, 11 November 2019 Euro foreign exchange rates

Financial stability

Market operations

Multimedia

ECB Press Conference - 12 September 2019
ECB Interview with Cornelia Holthausen
ECB Forum on Central Banking 2019
Christine Lagarde: 8th ECB CESEE - Keynote speech
Download the ECB Art App
Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir
Euro Banknotes – Our Money, Our Journey
Unveiling of the New 100 and 200 Euro Banknotes
20 years of ESCB statistics: What's next?
How are Executive Board members chosen?

ECB Press Conference - 24 October 2019
European Cultural Days of the ECB: Museumssalon - October 23 2019
European Cultural Days -10 October 2019
Sendung mit der Maus Tag der offenen Tür - 3 October 2019
ECB Press Conference – 12 September 2019
European Cultural Days - 22 August 2019
ECB Press Conference – 25 July 2019
Opening of the Croatian Art Exhibition
ECB Forum on Central Banking 2019
ECB Youth Dialogue with Benoît Cœuré, Milan

The international role of the euro, June 2018
Financial integration in Europe, May 2018
Price and wage-setting in advanced economies
ESCB Legal Conference 2018
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