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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

Fabio Panetta: Interview with El País

Interview with Fabio Panetta, Member of the Executive Board of the ECB, conducted by Luis Doncel and published on 11 April 2021 11 April 2021 The recovery in the euro area is still very fragile, and the vaccine rollout is progressing slowly. How is this slow progress affecting the economy? Uncertainty has receded to some extent, but is still high. The vaccine rollout is accelerating but remains slow. And in a number of countries the pandemic is spreading fast, which is weighing on the...

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Isabel Schnabel: Interview with Der Spiegel

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Tim Bartz and Stefan Kaiser on 1 April and published on 9 April 2021, in print on 10 April 2021 9 April 2021 Ms Schnabel, the global economy is only slowly recovering from one of the most severe economic crises in living memory, but the mood on stock markets is better than ever. Do you find that a cause for concern? We are closely monitoring this. Developments in Europe have not been extreme up to now,...

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Christine Lagarde: IMFC Statement

Statement by Christine Lagarde, President of the ECB, at the forty-third meeting of the International Monetary and Financial Committee Virtual IMF Spring Meetings, 8 April 2021 Since the previous IMFC meeting in October 2020, global prospects have improved thanks to the progress made in vaccination campaigns and the forceful policy support provided to our economies. However, this brighter outlook remains subject to considerable uncertainty, also regarding the path of the pandemic and the...

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Meeting of 10-11 March 2021

Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 10-11 March 2021 1. Review of financial, economic and monetary developments and policy options Financial market developments Ms Schnabel reviewed the financial market developments since the Governing Council’s previous monetary policy meeting on 20-21 January 2021. Sovereign yield curves across advanced economies had steepened, while new...

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Philip R. Lane: Stabilising the economic outlook

Remarks by Philip R. Lane, Member of the Executive Board of the ECB, at “The Outlook for the Economy and Finance” workshop (fully digital) organised by The European House − Ambrosetti Frankfurt am Main, 27 March 2021 The theme of this panel is the “Competitiveness of Europe and of the European Financial Markets”. Although the near-term focus of everyone is predominantly on combating the pandemic, it is also necessary and appropriate for us to examine the longer-term determinants of...

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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

March 2021 26 March 2021 External communication ECB’s Annual Report 2020 On 24 March 2021 the Governing Council adopted the ECB’s Annual Report 2020, which will be presented to the Committee on Economic and Monetary Affairs of the European Parliament and made available on the ECB’s website in 22 official languages of the European Union on 14 April 2021. Monetary policy Central bank compliance with prohibitions on monetary financing and privileged access On 24 March 2021, in...

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Isabel Schnabel: Paving the path to recovery by preserving favourable financing conditions

Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at NYU Stern Fireside Chat Frankfurt am Main, 25 March 2021 For more than a year now, central banks worldwide have been tackling the fallout from the coronavirus (COVID-19) crisis with unprecedented measures. The pandemic has posed enormous challenges to monetary policy, which have varied over time. The first phase of the crisis caused severe dislocations in global financial markets. Liquidity dried up, asset prices...

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Climate change in Europe

ECB President Christine Lagarde addresses in her speech at the conference “Investing in Climate Action – the make or break decade” organised by the European Investment Bank and the European Commission what steps are needed to support an orderly transition to a greener economy.

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