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In focus
Press releases1
Speeches
Interviews
Publications
Legal acts

15 February 2019SPEECH

The euro’s role in a changing world

The global role of the euro is primarily a market-led process, says Executive Board member Benoît Cœuré. However, policies to make the euro area more robust will also benefit the international role of the euro – this may have tangible consequences for monetary policy.

Speech
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11 February 2019SPEECH

Our current monetary policy status

Economic data in the euro area have been weaker than expected in recent months, says Vice-President Luis de Guindos. But, although near-term growth is likely to be weaker than foreseen, the conditions for ongoing economic growth remain in place.

Speech

13/02/2019: ECB publishes Consolidated Banking Data for end-September 2018
ENGLISH
12/02/2019: Consolidated financial statement of the Eurosystem as at 8 February 2019
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Commentary
ENGLISH
12/02/2019: Euro area securities issues statistics: December 2018
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05/02/2019: Consolidated financial statement of the Eurosystem as at 1 February 2019
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Commentary
ENGLISH
01/02/2019: Euro area bank interest rate statistics: December 2018
ENGLISH

All press releases

15/02/2019: Benoît Cœuré: The euro’s global role in a changing world: a monetary policy perspective
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Council on Foreign Relations, New York City, 15 February 2019
ENGLISH
13/02/2019: Sabine Lautenschläger: Risks to banks – from inside and out
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the 14th Asia-Pacific High-level meeting on Banking Supervision, in Sydney, 13 February 2019
ENGLISH
11/02/2019: Luis de Guindos: The euro area: current status and the monetary policy stance
Remarks by Luis de Guindos, Vice-President of the ECB, at Deusto Business School, Madrid, 11 February 2019
ENGLISH
07/02/2019: Yves Mersch: Promoting innovation and integration in retail payments to achieve tangible benefits for people and businesses
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the American European Community Association, Brussels, 7 February 2019
ENGLISH
04/02/2019: Yves Mersch: The changing role of central banking
Speech by Yves Mersch, Member of the Executive Board of the ECB, at Lamfalussy Lectures Conference of Lamfalussy Award at Central Bank of Hungary, Budapest, 4 February 2019
ENGLISH

All speeches

07/02/2019: Benoît Cœuré: Interview with Barron’s
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Pierre Briançon on 5 February 2019 and published on 7 February 2019
ENGLISH
01/02/2019: Sabine Lautenschläger: Interview with hr-iNFO – the Interview
Interview with Sabine Lautenschläger, Member of the Executive Board of the European Central Bank and Vice-Chair of the Supervisory Board of the ECB, conducted by Mariela Milkowa on 29 January 2019 and broadcast on 1 February 2019
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DeutschDE
25/01/2019: Benoît Cœuré: Interview with Bloomberg TV
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Francine Lacqua on 25 January 2019
ENGLISH
17/01/2019: Sabine Lautenschläger: Interview with Politico
Interview with Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, conducted by Politico on 14 January 2019 and published on 17 January 2019
ENGLISH
16/01/2019: Yves Mersch: Interview with Hospodarske noviny
Interview with Yves Mersch, Member of the Executive Board of the ECB, conducted by Kristina Votrubova on 11 January 2019
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SlovenčinaSK

All interviews

15/02/2019: Working paper no. 2242: The anatomy of the euro area interest rate swap market
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15/02/2019: Working paper no. 2241: Debt overhang, rollover risk, and corporate investment: evidence from the European crisis
ENGLISH
14/02/2019: Working paper no. 2240: Breaking the shackles: Zombie firms, weak banks and depressed restructuring in Europe
ENGLISH
14/02/2019: Occasional paper no. 219: Anticipating the bust: a new cyclical systemic risk indicator to assess the likelihood and severity of financial crises
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13/02/2019: Letter from the ECB President to Auke Zijlstra, MEP, on monetary policy
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NederlandsNL
13/02/2019: Letter from the ECB President to Werner Langen, MEP, on the European financial sector
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DeutschDE
13/02/2019: Working paper no. 2239: Money markets, collateral and monetary policy
ENGLISH
13/02/2019: Working paper no. 2238: America First? A US-centric view of global capital flows
ENGLISH
07/02/2019: Working paper no. 2237: Empowering central bank asset purchases: The role of financial policies
ENGLISH
07/02/2019: Working paper no. 2236: Do reputable issuers provide better-quality securitizations?
ENGLISH

All publications

13/02/2019: Opinion on a proposal for a Council Decision on the conclusion of the Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community (CON/2019/06)
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12/02/2019: Opinion on banning the use of euro 500 denomination banknotes and on certain amendments to anti-money laundering legislation (CON/2019/05)
Denmark,
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DanskDA
01/02/2019: Opinion on limitations to cash payments (CON/2019/04)
Spain,
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EspañolES
30/01/2019: Opinion on remuneration for executives and senior management in Narodowy Bank Polski (CON/2019/03)
Poland,
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PolskiPL
23/01/2019: Decision (EU) 2019/137 of the ECB of 23 January 2019 on the selection of Eurosystem Single Market Infrastructure Gateway (ESMIG) network service providers (ECB/2019/2)
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All legal acts

7 February 2019ECONOMIC BULLETIN

ECB publishes Economic Bulletin
Issue 1, 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

#EUROAT20

How you benefit from the euro

The euro is nearly 20 years old and has become a part of everyday life for the 340 million people living in the euro area. How do you benefit from a safe and stable currency?

Read our explainer
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Visit #EUROat20 hub
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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

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	1.1260
JPY	Japanese yen	124.45
GBP	Pound sterling	0.87938
CHF	Swiss franc	1.1340

Last update: Friday, 15 February 2019 Euro foreign exchange rates

Financial stability

Market operations

Multimedia

Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir
Unveiling of the New 100 and 200 Euro Banknotes
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.

ECB Press Conference - 25 October 2018
European Cultural Days - 25 September 2018
Visit of German Federal President Steinmeier to the ECB - 26 Sep 2018
ECB Press Conference - 13 September 2018
New €100 & €200 - Security features
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
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