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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

Mario Draghi: Twenty Years of the ECB’s monetary policy

Speech by Mario Draghi, President of the ECB, ECB Forum on Central Banking, Sintra, 18 June 2019Central banks were often established in the past with the aim of bringing stability in the aftermath of historic episodes. The Bank of England was established during the sovereign debt crisis of 1690, when the government was unable to obtain funding in the market. The Federal Reserve was created after a series of panics that had rocked the US banking system in the late 19th and early 20th...

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Benoît Cœuré: Interview with the Financial Times

Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Claire Jones on 12 June, and published on 17 June 2019At the last ECB Governing Council in Vilnius, there seemed to be some progress in coming up with solutions to face the risks to the outlook…… The Governing Council discussion in Vilnius was about making sense of diverse signals from the economy and the financial markets. The eurozone economy is not doing so badly; in fact services and construction are doing...

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Luis de Guindos: Interview with Corriere della Sera

Interview with Luis de Guindos, Vice-President of the ECB, conducted by Federico Fubini on 13 June 2019The 5y5y forward inflation rate is at an all-time low and clearly below where it was when Mario Draghi first hinted at quantitative easing (QE) in 2014. The ECB has already done some more easing and President Draghi himself mentioned that there was an interesting discussion at the latest Governing Council meeting on different tools to do some more easing – the asset purchase programme (APP)...

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Sabine Lautenschläger: Transformation of the retail and wholesale payments landscape in Europe

Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the European Association of Co-operative Banks, Berlin, 14 June 2019The European payments market has come a long way since 1992 when the Maastricht Treaty laid the foundation for the euro as a single currency. The road may have occasionally been long and winding but the facts speak for themselves: today, the euro is the second most used currency in the world and the Single Euro Payments Area (SEPA) which extends...

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International use of the euro increases

PRESS RELEASE13 June 2019Euro’s share in global foreign exchange reserves rose by 1.2 percentage points in 2018Role of euro also strengthened in debt issuance and remained stable as invoicing currencyPolicies for deeper economic and monetary union are key to supporting a further rise in international role of the euroThe euro’s international role strengthened in 2018 and early 2019 reversing a declining trend in recent years. This was one of the principal findings in the latest annual report...

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Benoît Cœuré: The effects of APP reinvestments on euro area bond markets

Closing remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the ECB’s Bond Market Contact Group meeting, 12 June 2019In December 2018 the Governing Council decided to halt net purchases under its asset purchase programme (APP) and to continue reinvesting, in full, the principal payments from maturing securities for an extended period of time past the date when we start raising the key ECB interest rates, and in any case for as long as necessary to maintain favourable...

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Mario Draghi: Welcome remarks

Speech by Mario Draghi, President of the ECB, at the 8th ECB conference on central, eastern and south-eastern European countries, Frankfurt, 12 June 2019Dear guests and colleagues,It is a great pleasure to welcome you to the eighth ECB conference on central, eastern and south-eastern European (CESEE) countries. There are many differences between the 18 economies in the CESEE region[1], but one thing they have in common is that they have all experienced real economic convergence towards the EU...

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ECB appoints Ulrich Bindseil as Director General Market Infrastructure and Payments

PRESS RELEASE11 June 2019The Executive Board of the European Central Bank (ECB) has appointed Ulrich Bindseil as Director General of Market Infrastructure and Payments (DG-MIP). Mr Bindseil will replace Marc Bayle, who is leaving the ECB to take up a position in the private sector.Mr Bindseil, 49, is currently Director General of the Directorate General Market Operations (DG-M), a post he has held since May 2012. He served as Deputy Director General of the same Directorate General from...

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Luis de Guindos: The euro area economy and our monetary policy stance

Remarks by Luis de Guindos, Vice-President of the ECB, during the Instituto de Empresa (IE) Business Leadership Forum at the IE Business School, Madrid, 10 June 2019Recent economic developmentsDespite the somewhat better than expected data for the first quarter, in part due to temporary factors, the most recent information indicates that global headwinds continue to weigh on the euro area outlook. In particular, world trade remains subdued due to rising trade tensions and the global growth...

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Mario Draghi, Luis de Guindos: Introductory statement to the press conference (with Q&A)

Mario Draghi, President of the ECB,Luis de Guindos, Vice-President of the ECB,Vilnius, 6 June 2019INTRODUCTORY STATEMENTJump to the transcript of the questions and answersLadies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. I would like to thank Chairman of the Board Vasiliauskas for his kind hospitality and express our special gratitude to his staff for the excellent organisation of today’s meeting of the Governing Council. We will now...

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