• Speech
    Developing models for policy analysis in central banks

    Central banks use a variety of models for their policy analysis. Insights from academic research can be of great help in the development of these models, says Vice-President Vítor Constâncio in his opening remarks at the Second ECB Annual Research Conference in Frankfurt.

25 September 2017SPEECH

Risk and non-conventional monetary policy

Non-standard monetary measures were necessary for achieving the ECB's mandate, says Executive Board member Yves Mersch at the Joint Banco de Portugal and European Central Bank Conference in Lisbon. Risks must be measured prudently and objectively, he adds.

22 September 2017CONFERENCE

Second ECB Annual Research Conference

The ECB is holding its second Annual Research Conference on 25 and 26 September in Frankfurt. This brings together leading academics in the fields of monetary economics and finance.

The Jean Monnet Lecture will be given by Nobel Prize laureate Peter Diamond and webcast live.

25/09/2017
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, 25 September 2017
25/09/2017
Yves Mersch: Risk management in times of non-conventional monetary policy
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, at the Joint Banco de Portugal and European Central Bank Conference on Risk Management for Central Banks, Lisbon, 25 September 2017
25/09/2017
Vítor Constâncio: Developing models for policy analysis in central banks
Opening speech by Vítor Constâncio, Vice-President of the ECB, at the Annual Research Conference, Frankfurt am Main, 25-26 September 2017
22/09/2017
Vítor Constâncio: Macroprudential stress-tests and tools for the non-bank sector
Prepared remarks by Vítor Constâncio, Vice-President of the ECB, at the ESRB Annual Conference, Frankfurt am Main, 22 September 2017
22/09/2017
Vítor Constâncio: Understanding and overcoming low inflation
Remarks by Vítor Constâncio, Vice-President of the ECB, at the Conference on “Understanding inflation: lessons from the past, lessons for the future?”, Frankfurt am Main, 21 and 22 September 2017

All speeches

20/09/2017
Vítor Constâncio: Interview with Euronews
Interview with Vítor Constâncio, Vice-President of the ECB, conducted by Efthymia Koutsokosta on 15 September and published on 20 September
16/09/2017
Peter Praet: Interview with De Tijd
Interview Peter Praet, Member of the Executive Board of the ECB, conducted by Wouter Vervenne and Bart Haeck on 13 September and published on 16 September 2017
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12/09/2017
Benoît Cœuré: Europe’s moment
Opinion piece by Benoît Cœuré, Member of the Executive Board of the ECB, published by Börsen-Zeitung, 12 September 2017
ENGLISH
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01/09/2017
Yves Mersch: The role of cash: Customer retention and tie to the citizen
Contribution by Yves Mersch, Member of the Executive Board of the ECB, 1 September 2017
23/08/2017
Vítor Constâncio: Investment and Growth in Advanced Economies: Selected Takeaways from the ECB’s Sintra Forum
Contribution of Vítor Constâncio, Philipp Hartmann and Peter McAdam for VoxEU

All interviews

20/09/2017
Opinion on interbank clearing and settlements (CON/2017/37)
Poland, 
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20/09/2017
Opinion on a proposal for a regulation of the European Parliament and of the Council on a framework for the recovery and resolution of central counterparties and amending Regulations (EU) No 1095/2010, (EU) No 648/2012, and (EU) 2015/2365 (CON/2017/38)
19/09/2017
Recommendation of the ECB of 8 September 2017 to the Council of the European Union on the external auditors of Národná banka Slovenska  (ECB/2017/27)
19/09/2017
Regulation (EU) 2017/1538 of the ECB of 25 August 2017 amending Regulation (EU) 2015/534 on reporting of supervisory financial information (ECB/2017/25)
11/09/2017
Opinion on the legal framework for covered bonds, reporting of credit data, macroprudential powers and tools, and SSM common procedures (CON/2017/36)
Slovakia, 
ENGLISH
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All legal acts

24 September 2017ACCOUNTABILITY

Hearing at European Parliament on 25 September

Mario Draghi, President of the ECB, speaks before the European Parliament’s Committee on Economic and Monetary Affairs and answers questions from its Members.

The hearing starts at 15:00 CET.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.40 %
Effective from 16 March 2016

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.1867
JPY Japanese yen 133.19
GBP Pound sterling 0.87938
CHF Swiss franc 1.1562
Last update: Monday, 25 September 2017 Euro foreign exchange rates

Multimedia

  • Highlights ECB Forum on Central Banking 2017

  • #ECBYouthDialogue - Lisbon 2017

  • Breaking internal barriers for women | Celia de Anca - 12 June 2017

  • Why we need more diversity to solve complex problems | Scott Page - 12 June 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

  • Five facts about the new €50

  • Inside the Asset Purchase Programme

  • Discover the New €50 Banknote

  • ECB and the Eurosystem explained in 3 min.

  • 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

  • Financial integration in Europe - cover image

    Financial integration in Europe

  • ESCB Legal Conference 2016 - cover image

    ESCB Legal Conference 2016

  • The international role of the euro, June 2016 - cover image

    The international role of the euro, June 2016

  • Conference proceedings of the ECB Forum on Central Banking, Sintra 2016: The Future of the international monetary and financial architecture - cover image

    Conference proceedings of the ECB Forum on Central Banking, Sintra 2016: The Future of the international monetary and financial architecture

  • 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