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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

Peter Praet: Improving the functioning of Economic and Monetary Union: lessons and challenges for economic policies

Speech by Peter Praet, Member of the Executive Board of the ECB, at the NABE Symposium, 16 April 2018Slides from the presentationThe ongoing economic expansion shows that our monetary policy has been effective in laying the groundwork for a return of inflation to a rate below, but close to, 2% over the medium term. [1]Euro area real GDP has expanded for 19 consecutive quarters. The latest economic data and survey results point towards some moderation of late, following several quarters of...

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Statement by the staff of the European Commission and the European Central Bank following the ninth post-programme surveillance visit to Spain

Staff from the European Commission, in liaison with staff from the European Central Bank (ECB), carried out the ninth post-programme surveillance visit to Spain on 9-10 April 2018. The European Stability Mechanism (ESM) participated in the meetings on aspects relating to its Early Warning System. Amid continued strong economic growth, the Spanish banking sector enjoys overall comfortable liquidity, and several banks increased their issuance of debt securities. Also, banks have over previous...

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Account of the monetary policy meeting

of the Governing Council of the European Central Bank, held in Frankfurt am Main on Wednesday and Thursday, 7-8 March 20181. Review of financial, economic and monetary developments and policy options Financial market developmentsMr Cœuré reviewed the latest financial market developments. Since the Governing Council’s monetary policy meeting on 24-25 January 2018, despite a short-lived and concentrated spike in market volatility, valuations across broad asset classes had remained consistent...

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ECB publishes results of second staff survey

Survey shows 90% of employees proud to work for the ECB Significant progress in areas such as workload, working time and flexibility since last surveyFollow-up action underway in areas identified for further improvement The European Central Bank (ECB) today announced the results of its second staff survey. The survey highlighted that staff value the ECB as an employer and as an ethical organisation, with 90% taking pride in working for the institution. Significant improvements were made in...

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Benoît Cœuré: Scars that never were? Potential output and slack after the crisis

Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the CEPII 40th Anniversary Conference, Paris, 12 April 2018Perhaps the biggest mystery facing policymakers today – and especially central bankers – is what is happening on the supply side of the economy. Subdued price and wage pressures globally are raising questions about both the true level of supply capacity, and about how much it is being lifted by strong current demand. Given that the supply side was traditionally...

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Mario Draghi: Generation €uro Students’ Award 2018 event

Introductory remarks and Q&A with Mario Draghi, President of the ECB, Frankfurt, 11 April 2018This document presents the transcript of the introduction and the Q&A with the President for the Generation €uro Students’ Award that took place on 11 April 2018 at 13:00.IntroductionLadies and gentlemen, and especially dear students,First of all, let me express congratulations to all the students here for reaching this stage of the Generation €uro Students’ Award competition. It’s an...

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Benoît Cœuré: Entretien avec France Info

Entretien de Benoît Cœuré, membre du directoire de la BCE, accordé à Jean Leymarie, le 9 avril 2018 et publié le 10 avril 2018En Europe la croissance est toujours là, elle est bien là, mais elle ralentit, c’est de plus en plus net : est-ce que cela vous inquiète ?Je ne crois pas que la croissance ralentisse. C’est quelque chose qu’on observe avec beaucoup de précision ; on suit tous les indicateurs. Pour l’instant ce qu’on observe, ce sont des indicateurs qui sont montés très, très hauts, à...

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ECB launches public consultation on cyber resilience oversight expectations

ECB calls for input on draft cyber resilience oversight expectations for financial market infrastructuresDraft document defines ECB’s expectations in terms of cyber resilience, based on existing global guidanceConsultation runs until 17:00 CET on 5 June 2018The European Central Bank (ECB) is today launching a public consultation calling on financial market infrastructures (FMIs) and other interested parties to give their input on draft cyber resilience oversight expectations. Cyber resilience...

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Benoît Cœuré: Interview with France Info

Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Jean Leymarie on 9 April 2018 and published on 10 April 2018We are still seeing growth in Europe, there is certainly growth, but it seems increasingly clear that it is slowing down. Does that worry you?I don’t think we are seeing a slowdown in growth. This is something that we monitor very closely, we follow all the indicators. We are seeing indicators that had risen to very, very high levels, levels that had...

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Vítor Constâncio: Presentation of the ECB Annual Report 2017 to the Committee on Economic and Monetary Affairs of the European Parliament

Introductory remarks by Vítor Constâncio, Vice-President of the ECB, Brussels, 9 April 2018Mr Chairman,Honourable Members of the Committee on Economic and Monetary Affairs,Ladies and gentlemen,I am honoured to be here today for the last time before this Committee, to present the ECB Annual Report for 2017 in my capacity as ECB Vice-President. I would like to personally thank you for the fruitful dialogue we have had over these past eight years. The world has changed greatly over this period,...

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