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    Expanding the pandemic emergency purchase programme

    Two main factors called for further policy action, writes Chief Economist Philip R. Lane. First, the pandemic-related negative shock to inflation poses a threat to medium-term price stability. Second, while conditions in financial markets have stabilised substantially, the situation remains fragile.

Our response to the coronavirus pandemic
5 June 2020 ACCOUNTABILITY

Hearing at European Parliament on 8 June

President Christine Lagarde will speak before the European Parliament’s Committee on Economic and Monetary Affairs and answers questions from its members on 8 June. The hearing will start at 15:45 CET

5 June 2020 PRESS RELEASE

New repo line between ECB and the Romanian central bank

It attempts to address possible euro liquidity needs arising from the coronavirus shock and will remain in place until at least the end of 2020. Banca Naţională a României can borrow up to €4.5 billion from the ECB, with a maximum maturity per drawing of three months.

04/06/2020
Christine Lagarde, Luis de Guindos: Introductory statement to the press conference (with Q&A)
Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB, Frankfurt am Main, 4 June 2020
22/05/2020
Philip R. Lane: International inflation co-movements
Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Inflation: Drivers and Dynamics 2020 Online Conference, Federal Reserve Bank of Cleveland/European Central Bank, 22 May 2020
19/05/2020
Philip R. Lane: Pandemic central banking: the monetary stance, market stabilisation and liquidity
Remarks by Philip R. Lane, Member of the Executive Board of the ECB, at the Institute for Monetary and Financial Stability Policy Webinar, 19 May 2020
11/05/2020
Yves Mersch: An ECB digital currency – a flight of fancy?
Speech by Yves Mersch, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Consensus 2020 virtual conference, 11 May 2020
08/05/2020
Christine Lagarde: Opening remarks at the EUI’s State of the Union event
Opening remarks by Christine Lagarde, President of the ECB, at the Online Edition of The State of the Union conference organised by the European University Institute

All speeches

05/06/2020
Fabio Panetta: Interview with Radio anch’io, Rai Radio 1
Interview with Fabio Panetta, Member of the Executive Board of the ECB, conducted by Giorgio Zanchini on 5 June 2020
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05/06/2020
Christine Lagarde: Interview with France 2
Interview with Christine Lagarde, President of the ECB, conducted by Léa Salamé and Thomas Sotto on 4 June 2020
English
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27/05/2020
Isabel Schnabel: Interview with Perspektiven der Wirtschaftspolitik
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Karen Horn
English
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27/05/2020
Isabel Schnabel: Interview with Financial Times
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Martin Arnold on 25 May and published on 27 May 2020
18/05/2020
Christine Lagarde: Interview with Les Echos, Corriere della Sera, Handelsblatt and El Mundo
Interview with Christine Lagarde, President of the ECB, conducted by Dominique Seux, Federico Fubini, Thomas Hanke and Carlos Segovia, published on 18 May 2020
English
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All interviews

25/05/2020
Opinion on cash limitations concerning postal payments and anti-money laundering measures  (CON/2020/17)
Belgium, 
20/05/2020
Opinion on amendments to the Union prudential framework in response to the COVID-19 pandemic  (CON/2020/16)
11/05/2020
Opinion on amendments to Latvian national security, emergency situation and mobilisation laws (CON/2020/15)
Latvia, 
ENGLISH
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11/05/2020
Guideline (EU) 2020/634 of the ECB of 7 May 2020 amending Guideline ECB/2014/31 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2020/29)
08/05/2020
Opinion on a proposal for a regulation on the establishment of a European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) following the COVID-19 outbreak  (CON/2020/14)

All legal acts

5 June 2020 INTERVIEW

We acted to guarantee price stability

Inflation is very low and is expected to remain so over the next two years – that’s why we acted, said Executive Board member Fabio Panetta in an interview with Rai Radio, talking about the latest monetary policy measures and the economic growth outlook.

#ASKECB

Join live Twitter Q&A with Isabel Schnabel

Executive Board member Isabel Schnabel will be answering your questions live on Twitter on Tuesday, 9 June from 16:30 CET.

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 1.1330
JPY Japanese yen 123.77
GBP Pound sterling 0.89448
CHF Swiss franc 1.0866
Last update: Friday, 05 June 2020 Euro foreign exchange rates

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