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Since 1 January 1999 the European Central Bank (ECB) has been responsible for conducting monetary policy for the euro area - the world’s largest economy after the United States.

ECB Press Releases

Frank Elderson: Integrating the climate and environmental challenge into the missions of central banks and supervisors

Speech by Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the 8th Conference on the Banking Union, Goethe University, Frankfurt am Main Frankfurt am Main, 23 September 2021 Many thanks for your kind introduction and for having me here today at this 8th Conference on the Banking Union. I am especially happy to be here, for this is the first time since I joined the European Central Bank last December that I am joining in a...

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Firms and banks to benefit from early adoption of green policies, ECB’s economy-wide climate stress test shows

22 September 2021 Firms and banks to be severely affected if climate change issues not addressed Orderly and swift transition to minimise costs and maximise benefits outweighs short-term cost of transition to zero-carbon economy over medium to longer term Investment in sectors and regions heavily exposed to climate risk set to suffer most The European Central Bank (ECB) today published the results of its economy-wide climate stress test. The exercise tested the impact of climate...

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Isabel Schnabel: Asset purchases: from crisis to recovery

Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Annual Conference of Latvijas Banka on "Sustainable Economy in Times of Change" Frankfurt am Main, 20 September 2021 Asset purchases have become an important tool for central banks worldwide to secure price stability in the vicinity of the zero lower bound. The experience over the past decade has yielded many insights into how precisely asset purchases affect financial and economic conditions, the latest example...

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Luis de Guindos: Interview with Het Financieele Dagblad

Interview with Luis de Guindos, Vice-President of the ECB, conducted by Joost van Kuppeveld and Daan Ballegeer 17 September 2021 [Introduction by the FD on inflation and its effect on savings] “I fully understand that many people are complaining about the low interest rates, but you can’t look at purchasing power purely in terms of inflation,” De Guindos says. “You need to look at all of the effects of our policy. If negative rates are necessary for Europeans in order to boost the...

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Christine Lagarde: Interview with Bloomberg

Interview with Christine Lagarde, President of the ECB, conducted by David Rubenstein, Bloomberg, on 13 September 16 September 2021 Today we're in conversation with Christine Lagarde, who is the President of the European Central Bank. As we now look at the post-COVID environment, what would you say is the situation in Europe? Is Europe recovering more rapidly, or not quite as rapidly as you'd thought, from the COVID pandemic? Actually, Europe is recovering more rapidly than we had...

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Isabel Schnabel: The monetary policy non-puzzle in bond markets

Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Bond Market Contact Group meeting Frankfurt am Main, 15 September 2021 Sovereign bond markets in the euro area and the United States have taken a remarkable turn over the summer.[1] Despite the ongoing strong recovery from the crisis, the revival of inflation and surveys signalling firming expectations among market participants that central bank asset purchases globally may gradually slow in the near future,...

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