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Overview of monetary policy and markets

Price stability is the best contribution that monetary policy can make to economic growth

Our main aim at the ECB is price stability. We serve people living in the euro area by working to preserve the value of the euro. In this section you can learn about our policy strategy, the tools we use and the impact they have on your day-to-day life. 

We also follow the financial markets. This gives us information for our core task of keeping prices stable, which contributes to economic growth.

Monetary policy decisions

We take decisions on monetary policy every six weeks – determining what should be done to keep inflation at our 2% target. Right after the decisions are taken, the President and Vice-President explain them in detail in a press conference. 

Monetary policy decisions and more

Monetary policy statement

We take decisions on monetary policy every six weeks – determining what should be done to keep inflation under control. Our visual statement explains this in short and easy-to-understand language.

Our monetary policy statement at a glance

Tools and policy measures

Our monetary policy influences how much you have to pay to borrow and how much interest you receive on your savings. We steer interest rates with the aim of achieving price stability in the euro area. Find out how our tools and measures work.

More information on our tools

Monetary operations

In addition to setting key interest rates, we also conduct open market operations. Check out the latest information on these operations.

Find out more


When banks borrow from us, they have to provide adequate collateral as a security. Want to know which collateral we accept? Looking for statistics on the collateral we have received?

More information on collateral
Our response to the pandemic


Learn more about the reasoning behind our monetary policy decisions and about collaborating across Europe

Monetary policy accounts

We publish accounts of the Governing Council meetings in which monetary policy decisions are taken. These documents provide a summary of the discussions that took place.

Monetary policy accounts
Economic Bulletin

The Economic Bulletin provides additional insight into the economic, financial and monetary developments that form the basis for our monetary policy decisions.

Read more
Market contact groups

We have set up various market contact groups to guarantee that our policies are implemented smoothly and efficiently. The groups also let us talk to a range of market participants and follow global financial market developments more closely.

Market contact groups
Public consultations

We regularly seek input on decisions and initiatives affecting financial markets. This direct engagement lets us benefit from the insights of people involved or interested in these markets.

See our ongoing and past public consultations
Not an expert? Check out our explainer
Learn more
What is monetary policy?

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