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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

Isabel Schnabel: Interview with Süddeutsche Zeitung

Interview with Isabel Schnabel, Member of the Executive Board of the ECB, conducted by Markus Zydra, Bastian Brinkmann and Meike Schreiber on 10 January 2022 14 January 2022 Ms Schnabel, inflation in the euro area now stands at 5% – a record high. When are you finally going to intervene? We view these figures with some concern, as they are higher than we initially expected. And we fully understand many people’s worries about the drop in real wages and interest income – all the more so...

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Christine Lagarde: Conference of Parliamentary Committees for Union Affairs (COSAC)

Introductory statement by Christine Lagarde, President of the ECB, at the meeting of the Conference of Parliamentary Committees for Union Affairs of the Parliaments of the European Union (COSAC) Paris, 14 January 2022 Before I begin my remarks, I would like to take a moment to honour the memory of President David Sassoli. Like all who knew him, I was deeply saddened by his loss, and I would like to remember him with the words he said in his inaugural speech as President of the European...

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20th Anniversary of the Euro – ECB Main Building Light Show

For the first week of 2022, starting at 00:00 on New Year's day, the facade of the ECB's main building featured a light show celebrating the 20th anniversary of the Euro, our shared currency. The Euro, as both a symbol and a currency, has brought Europeans closer together over the past two decades, and we bring you footage of this celebration from the Frankfurt skies.

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Christine Lagarde: Remarks by Christine Lagarde at a virtual ceremony marking the change of office of the President of the Bundesbank

Welcome address by Christine Lagarde, President of the ECB, at a virtual ceremony marking the change of office of the President of the Bundesbank Frankfurt am Main, 11 January 2022 It is a pleasure to be here today to speak with you. This ceremony marks an important moment of transition for the Deutsche Bundesbank. We say goodbye to a good friend, Jens, after more than ten successful years at the helm of this proud institution. And we welcome Joachim as the Bundesbank’s new President....

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Philip R. Lane: Interview with Il Sole 24 Ore

Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Isabella Bufacchi 11 January 2022 Euro area HICP inflation in December hit another record all-time high. Maybe a peak. Markets are now even more convinced that the ECB is going to raise interest rates at the end of this year. Is this data going to derail your monetary policy stance? In our December projections we assessed that inflation at the end of 2021, including in the month of December, was going...

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Isabel Schnabel: Looking through higher energy prices? Monetary policy and the green transition

Remarks by Isabel Schnabel, Member of the Executive Board of the ECB, at a panel on “Climate and the Financial System” at the American Finance Association 2022 Virtual Annual Meeting Frankfurt am Main, 8 January 2022 In 2021 the global economy was shaken by a major energy crisis. Prices for oil, gas and electricity surged as our economies reopened after the shutdowns imposed in response to the coronavirus (COVID-19) outbreak. Though last year’s events were extraordinary on many levels,...

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Philip R. Lane: Interview with RTÉ

Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Robert Shortt on 7 January and published on 7 January 2022 7 January 2022 Philip Lane, what's your response to the Eurostat flash estimate for December showing the euro area inflation on the new record high 5%. That number is broadly in line with what we expected. We’ve been clear, in recent weeks and months, that there is a peak of inflation at the end of 2021. And this number of 5 per cent in December...

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