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Annual Report

The Annual Report describes the tasks and activities of the European System of Central Banks (ESCB) and reports on the Eurosystem’s monetary policy. It is usually published in the spring of the following year and is presented by one of the ECB’s Executive Board members to the European Parliament at a public hearing.


In figures


Economic growth weakened

The euro area economy continued its recovery from the pandemic in the first half of the year but weakened substantially in the second half. Overall, GDP grew by 3.5%.

More on economic growth
+250basis points

The ECB started to raise its key policy rates

In July the Governing Council raised the key ECB interest rates for the first time in more than a decade, putting an end to an era of negative policy rates. Rates rose by 250 basis points over the second half of the year to bring inflation back towards the 2% medium-term target.

Our monetary policy

This year marked the 20th anniversary of euro cash

The introduction of euro banknotes and coins in 2002 was a milestone in European history and put a tangible sign of European integration in our pockets.

Discover more

Presentation to the European Parliament

Read Luis de Guindos' speech to the Committee on Economic and Monetary Affairs of the European Parliament when he presented the Annual Report.

Read the speech

Full report

Look back at what the ECB has done, as well as at our assessment of the economy for the last year.

See the full report

Feedback statement

Published on the occasion of the presentation of the ECB’s Annual Report 2022 to the European Parliament, this feedback statement provides responses to the issues raised and requests made by the European Parliament in its resolution on the previous year’s Annual Report.

Read the full statement

Annual Accounts

The Annual Accounts show our financial position and the results of our operations. They are part of our Annual Report but are published earlier, in February. Have a look at the latest and previous releases.

Annual Accounts

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Reporting obligations

The ECB is an independent institution which has discretion to use its intruments as necessary to carry out its tasks and fulfil its mandate. Accountability is the necessary counterpart to that independence.



The ECB President and other Executive Board members appear regularly before the European Parliament.

Hearings at the European Parliament

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