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    Supporting the economic recovery

    The current level of financing conditions provides substantial support to the economy, says Executive Board member Isabel Schnabel in an interview with Bloomberg. The focus should now be on preserving these favourable conditions for as long as necessary.

Our response to the coronavirus pandemic
2 December 2020 PRESS RELEASE

Payment behaviours are gradually changing

Cash remains the most popular retail payment instrument in the euro area, although its use is declining gradually, the latest study on payment behaviours shows. Consumers are increasingly using cashless payments and the pandemic seems to be accelerating this trend.

2 December 2020 THE ECB BLOG

Money in the digital era

The results of the ECB’s latest study on payment behaviours suggest that no single means of payment currently available meets all consumer needs, Executive Board member Fabio Panetta writes in The ECB Blog. This underlines the importance of continuing to give people a choice on how to pay.

27/11/2020
Fabio Panetta: From the payments revolution to the reinvention of money
Speech by Fabio Panetta, Member of the Executive Board of the ECB, at the Deutsche Bundesbank conference on the “Future of Payments in Europe”
26/11/2020
Philip R. Lane: Monetary policy in a pandemic: ensuring favourable financing conditions
Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Economics Department and IM-TCD, Trinity College Dublin
24/11/2020
Philip R. Lane: IMF Policy dialogue: New policy frameworks for a "Lower-for-Longer" world
24/11/2020
Isabel Schnabel: COVID-19 and monetary policy: Reinforcing prevailing challenges
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at The Bank of Finland Monetary Policy webinar: New Challenges to Monetary Policy Strategies
23/11/2020
Isabel Schnabel: Shifting tides in euro area money markets: from the global financial crisis to the COVID-19 pandemic
Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the ECB Conference on Money Markets, 23 November 2020

All speeches

02/12/2020
Philip R. Lane: Transcript of the fireside chat at Reuters Global Outlook Investment Summit
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Balázs Korányi on 1 December 2020
01/12/2020
Isabel Schnabel: Interview with Bloomberg
Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Jana Randow, Carolynn Look and Alexander Weber on 30 November 2020
30/11/2020
Christine Lagarde: The future of money – innovating while retaining trust
Article by Christine Lagarde, President of the ECB, in L’ENA hors les murs magazine
English
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28/11/2020
Yves Mersch: Interview with Le Monde
Interview with Yves Mersch, Member of the Executive Board of the ECB, conducted by Marie Charrel and Eric Albert
English
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28/11/2020
Luis de Guindos: Interview with Helsingin Sanomat
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Petri Sajari on 24 November 2020
English
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All interviews

02/12/2020
Fabio Panetta: Money in the digital era
Blog post by Fabio Panetta, Member of the Executive Board of the ECB

Summary

The results of the ECB’s latest study on payment behaviours suggest that no single means of payment currently available meets all consumer needs, Executive Board member Fabio Panetta writes in The ECB Blog. This underlines the importance of continuing to give people a choice on how to pay.

20/10/2020
Isabel Schnabel: Don’t take it for granted: the value of high-quality data and statistics for the ECB’s policymaking
Blog post by Isabel Schnabel, Member of the Executive Board of the ECB

Summary

High-quality data and statistics provide indispensable input for sound policy decisions, including at the ECB, writes Executive Board member Isabel Schnabel. Today’s World Statistics Day reminds us of the importance of data we can trust.

02/10/2020
Fabio Panetta: We must be prepared to issue a digital euro
Blog post by Fabio Panetta, Member of the Executive Board of the ECB

Summary

We should be ready to issue a digital euro if and when it is necessary, writes Executive Board member Fabio Panetta. The euro is a currency that Europeans trust. We need to make sure that it is fit for the future.

11/09/2020
Philip R. Lane: The outlook for the euro area
Blog post by Philip R. Lane, Member of the Executive Board of the ECB

Summary

Our current measures are providing crucial support to the economic recovery in the euro area, writes Chief Economist Philip R. Lane. But there is no room for complacency as inflation remains far below the aim and risks continue to be tilted to the downside.

02/09/2020
Luis de Guindos, Fabio Panetta, Isabel Schnabel: Europe needs a fully fledged capital markets union – now more than ever
Blog post by Luis de Guindos, Vice-President of the ECB, and Fabio Panetta and Isabel Schnabel, Members of the Executive Board of the ECB

Summary

The coronavirus crisis makes progress on capital markets union even more important, write Luis de Guindos, Fabio Panetta and Isabel Schnabel. In the light of the European Commission’s forthcoming Action Plan, they outline priority areas for reform to foster European capital markets.

All blog posts

2 December 2020 INTERVIEW

Long term economic effects of the pandemic

The biggest challenge for the coming year is reconciling the need to control the virus with the importance of supporting the economy, says Chief Economist Philip R. Lane. He also discusses potential long-term damage from the pandemic and the importance of restoring the inflation path.

PUBLIC CONSULTATION

Digital euro: have your say!

Like the euro we already use every day, the design of a digital euro should meet the needs of a broad range of users. That’s why we want to hear the views of the public and of all interested stakeholders on the benefits and challenges of issuing a digital euro and on its possible design.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.50 %
Effective from 18 September 2019

Inflation rate

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.2159
JPY Japanese yen 126.44
GBP Pound sterling 0.90282
CHF Swiss franc 1.0822
Last update: Friday, 04 December 2020 Euro foreign exchange rates

Multimedia

  • ECB Governing Council Press Conference - 10 September 2020

    ECB Governing Council Press Conference - 10 September 2020

  • ECB Governing Council Press Conference - 16 July 2020

    ECB Governing Council Press Conference - 16 July 2020

  • ECB Governing Council Press Conference - 04 June 2020

    ECB Governing Council Press Conference - 04 June 2020

  • Join a Youth Dialogue with Christine Lagarde

    Join a Youth Dialogue with Christine Lagarde

  • ECB Governing Council Press Conference - 30 April 2020

    ECB Governing Council Press Conference - 30 April 2020

  • 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

  • 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

  • ECB Press Conference - 10 September 2020

  • ECB Press Conference - 16 July 2020

  • ECB Press Conference - 04 June 2020

  • Youth Dialogue with Christine Lagarde - 27 May 2020

  • ECB Press Conference - 30 April 2020

  • New signature for euro banknotes - 28 November 2019

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

  • Farewell President Draghi - 28 October 2019

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

  • ECB Press Conference - 24 October 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