• The facts about the ECB’s monetary policy
    Speech
    The facts about the ECB’s monetary policy

    Unfounded criticism of the ECB jeopardises trust in our single monetary policy and undermines European cohesion, says Executive Board member Isabel Schnabel in a speech in Karlsruhe. She looks at some dominant narratives in Germany and discusses them in light of the facts.

ECB policies continue to be effective
14 February 2020 INTERVIEW

ECB policies continue to be effective

Without ECB policies disinflationary pressures would be more severe, explains Philip R. Lane in an interview with RTÉ. We are still in the legacy of the crisis and countries with fiscal space can do more to accelerate recovery.

Confidentiality and auditability in distributed ledgers
13 February 2020 PUBLICATION

Confidentiality and auditability in distributed ledgers

It’s important to consider privacy when sharing transaction information using distributed ledger technology (DLT). The latest report from our joint research project with the Bank of Japan explores privacy enhancing technologies and techniques which can improve confidentiality and auditability.

11/02/2020
Philip R. Lane: Low inflation: macroeconomic risks and the monetary policy stance
Keynote speech by Philip R. Lane, Member of the Executive Board of the ECB, at the financial markets workshop of the Economic Council (Finanzmarktklausur des Wirtschaftsrats der CDU)
English
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DeutschDE
11/02/2020
Isabel Schnabel: Narratives about the ECB’s monetary policy – reality or fiction?
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Juristische Studiengesellschaft
English
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DeutschDE
Slides
Deutsch
11/02/2020
Christine Lagarde: Debate about the Annual Report
Introductory statement by Christine Lagarde, President of the ECB, on the occasion of the presentation of the ECB Annual Report 2018 at the European Parliament
English
06/02/2020
Luis de Guindos: The euro area financial sector: opportunities and challenges
Speech by Luis de Guindos, Vice-President of the ECB, at the XXVI Santander Iberian Conference
English
06/02/2020
Christine Lagarde: Hearing at the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Christine Lagarde, President of the ECB, at the ECON committee of the European Parliament
English
Transcript of the hearing
Multiple languages

All speeches

14/02/2020
Philip R. Lane: Interview with RTÉ (Ireland’s National Television and Radio Broadcaster)
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Robert Shortt on 13 February 2020 and broadcast (in part) on 13 February 2020
English
11/02/2020
Isabel Schnabel: Interview with Die Welt
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Anja Ettel and Holger Zschäpitz on 10 February 2020, published on 11 February 2020
English
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DeutschDE
10/02/2020
Luis de Guindos: Interview with Expansión
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Andrés Stumpf on 6 February 2020 and published on 10 February 2020
English
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EspañolES
03/02/2020
Luis de Guindos: Interview with ERT TV (Hellenic Broadcasting Corporation)
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Rallou Alexopoulou on 3 February 2020 and broadcast (in part) on 3 February 2020
English
02/02/2020
Philip R. Lane: Interview with Financial Times
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Martin Arnold on 27 January, and published on 2 February 2020
English

All interviews

05/02/2020
Opinion on the Supervisory Board of Eesti Pank (CON/2020/7)
Estonia, 
ENGLISH
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Eesti keelET
03/02/2020
Opinion on changes to the governance of De Nederlandsche Bank and the formal establishment of the Financial Stability Committee (CON/2020/6)
The Netherlands, 
ENGLISH
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NederlandsNL
01/02/2020
Agreement of 22 January 2020 between the ECB and the national central banks of the Member States outside the euro area amending the Agreement of 16 March 2006 between the ECB and the national central banks of the Member States outside the euro area laying down the operating procedures for an exchange rate mechanism in stage three of Economic and Monetary Union
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
30/01/2020
Opinion on the right of insolvency administrators and liquidators of credit institutions to hold funds in an account in Latvijas Banka (CON/2020/4)
Latvia, 
ENGLISH
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LatviešuLV
30/01/2020
Opinion on the sanctioning powers of BNB within close cooperation and the official exchange rate of the Bulgarian lev (CON/2020/5)
Bulgaria, 
ENGLISH
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БългарскиBG

All legal acts

Need for a countercyclical fiscal instrument
12 February 2020 INTERVIEW

Need for a countercyclical fiscal instrument

The euro area lacks an effective framework for countercyclical fiscal policy, said Vice-President Luis de Guindos in an interview with Expansión. He also talked about the strategy review and the potential risks the asset management sector poses to financial stability.

Supervising banks: profits, transparency and Brexit
PODCAST

Supervising banks: profits, transparency and Brexit

Why do we need banking supervision at the European level? What are the supervisory challenges posed by Brexit? Our host Michael Steen talks about these questions and more with Andrea Enria, Pien van Erp Taalman Kip and Linette Field. Listen, subscribe and let us know what you think!

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 1.0842
JPY Japanese yen 119.11
GBP Pound sterling 0.83208
CHF Swiss franc 1.0641
Last update: Friday, 14 February 2020 Euro foreign exchange rates

Financial stability

Market operations

Multimedia

  • Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

    Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

  • ECB Governing Council Press Conference - 12 December 2019

    ECB Governing Council Press Conference - 12 December 2019

  • The ECB explains: crypto-assets

    The ECB explains: crypto-assets

  • ECB Forum on Central Banking 2019

    ECB Forum on Central Banking 2019

  • Download the ECB Art App

    Download the ECB Art App

  • Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

    Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

  • Euro Banknotes – Our Money, Our Journey

    Euro Banknotes – Our Money, Our Journey

  • Unveiling of the New 100 and 200 Euro Banknotes

    Unveiling of the New 100 and 200 Euro Banknotes

  • 20 years of ESCB statistics: What's next?

    20 years of ESCB statistics: What's next?

  • ECB Interview with Cornelia Holthausen

    ECB Interview with Cornelia Holthausen

  • New signature for euro banknotes - 28 November 2019

    New signature for euro banknotes - 28 November 2019

  • Christine Lagarde's Keynote Speech - European Banking Congress 2019

    Christine Lagarde's Keynote Speech - European Banking Congress 2019

  • Farewell President Draghi - 28 October 2019

    Farewell President Draghi - 28 October 2019

  • ECB Conference on Gender and Career Progression - 21 October 2019

    ECB Conference on Gender and Career Progression - 21 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

    European Cultural Days of the ECB: Museumssalon - October 23 2019

  • ECB Press Conference - 24 October 2019

    ECB Press Conference - 24 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

    European Cultural Days of the ECB: Museumssalon - October 23 2019

  • European Cultural Days -10 October 2019

    European Cultural Days -10 October 2019

  • Sendung mit der Maus Tag der offenen Tür - 3 October 2019

    Sendung mit der Maus Tag der offenen Tür - 3 October 2019

  • ECB Press Conference – 12 September 2019

    ECB Press Conference – 12 September 2019

  • The international role of the euro, June 2018 - cover image

    The international role of the euro, June 2018

  • Financial integration in Europe, May 2018 - cover image

    Financial integration in Europe, May 2018

  • Price and wage-setting in advanced economies - cover image

    Price and wage-setting in advanced economies

  • ESCB Legal Conference 2018 - cover image

    ESCB Legal Conference 2018

  • 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