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  • Speech
    Monetary policy and climate change

    Executive Board member Benoît Cœuré discusses how climate change fits into the ECB’s current monetary policy framework and how it may affect the implementation of this policy. Central banks, provided they stick to their mandate, can play a role in mitigating the risks of climate change.

13 November 2018SPEECH

Preserving monetary policy accommodation

The end of net asset purchases does not mean the end of monetary policy accommodation, says Executive Board member Peter Praet. The switch to enhanced forward guidance on key ECB interest rates has preserved the ample degree of monetary policy accommodation.

12 November 2018SPEECH

Investment funds and financial stability

The investment fund sector in the euro area has been growing steadily. In order to address emerging risks and safeguard financial stability, we should aim to extend the macroprudential framework beyond banks to encompass the asset management sector, says Vice-President Luis de Guindos.

15/11/2018
Luis de Guindos: Euro area banking sector – current challenges
Keynote speech by Luis de Guindos, Vice-President of the ECB, at the Annual General Meeting of the Foreign Bankers’ Association, Amsterdam, 15 November 2018
15/11/2018
Benoît Cœuré: The new frontier of payments and market infrastructure: on cryptos, cyber and CCPs
Welcome remarks by Benoît Cœuré, Chair of the Committee on Payments and Market Infrastructures of the Bank for International Settlements and Member of the Executive Board of the ECB, at the Economics of Payments IX conference, Basel, 15 November 2018
13/11/2018
Luis de Guindos: Promoting the stability and efficiency of EU financial markets beyond Brexit
Speech by Luis de Guindos, Vice-President of the ECB, at the Deutsche Bundesbank reception on the occasion of Euro Finance Week, Frankfurt, 13 November 2018
13/11/2018
Sabine Lautenschläger: Four years of Banking Union: where do we stand?
Opening Statement by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Banking Supervision, Resolution and Risk Management conference during the 21st Euro Finance Week, Frankfurt am Main, 13 November 2018
13/11/2018
Peter Praet: Preserving monetary accommodation in times of normalisation
Speech by Peter Praet, Member of the Executive Board of the ECB, at the UBS Conference, London, 13 November 2018

All speeches

02/11/2018
Peter Praet: Interview with BdP Revista, staff magazine of Banco de Portugal
Interview with Peter Praet, Member of the Executive Board of the ECB, conducted by Isabel Arriaga e Cunha on 18 June 2018 and published on 2 November 2018
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01/10/2018
Benoît Cœuré: Interview with Der Tagesspiegel
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Carla Neuhaus on 19 September 2018 published on 1 October 2018
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05/09/2018
Benoît Cœuré: Interview with Kathimerini
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Eirini Chrysolora and published on 5 September 2018
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05/08/2018
Sabine Lautenschläger: Interview with Welt am Sonntag
Interview with Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, conducted by Anja Ettel and Anne Kunz on 30 July 2018 and published on 5 August 2018
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09/07/2018
Benoît Cœuré: Interview with Bloomberg TV
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Caroline Connan and broadcast on 9 July 2018

All interviews

09/11/2018
Opinion on national legislation to be adopted for the purpose of establishing close cooperation between the ECB and Българска народна банка (Bulgarian National Bank) (CON/2018/49)
Bulgaria, 
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09/11/2018
Opinion on the strengthening of financial supervision and investor protection (CON/2018/50)
Poland, 
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08/11/2018
Opinion on the minimum reserve requirements of the Magyar Nemzeti Bank (CON/2018/48)
Hungary, 
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08/11/2018
Opinion on designation of essential services and operators of essential services for the purpose of network and information systems security (CON/2018/47)
Slovenia, 
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26/10/2018
Opinion on the legal framework of the State Audit Office (CON/2018/45)
Croatia, 
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6 November 2018EVENT

Monetary Policy conference

We hosted our annual monetary policy conference on 29 and 30 October. The video of the policy panel featuring Nobel Prize winner Christopher Sims is now available. We also asked a number of speakers to present their work in under a minute!

INSERTED BY ANOMYOUS PROXY

Civil war declaration

On April 14th and 15th, 2012 Federal Republic of Germany "_urkenstaats"s parliament, Deutscher Bundestag, received a antifiscal written civil war declaration by Federal Republic of Germany "Rechtsstaat"s electronic resistance for human rights even though the "Widerstandsfall" according to article 20 paragraph 4 of the constitution, the "Grundgesetz", had been already declared in the years 2001-03.

#EUROAT20

20 years of the euro

The euro will turn 20 on 1 January 2019. Today, the euro is the currency of 19 EU countries and over 340 million Europeans. It is one of the most important currencies in the world. Explore our hub page to learn more about this important achievement and the events we have planned.

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.40 %
Effective from 16 March 2016

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.1305
JPY Japanese yen 128.16
GBP Pound sterling 0.88370
CHF Swiss franc 1.1365
Last update: Thursday, 15 November 2018 Euro foreign exchange rates

Multimedia

  • Travelogue: ECB Executive Board member Benoît Cœuré visiting Vorwerk factory in Cloyes-sur-le-Loir

  • Unveiling of the New 100 and 200 Euro Banknotes

  • 20 years of ESCB statistics: What's next?

  • 20th anniversary – Staff testimonials / First Day at the ECB

  • ECB Forum on Central Banking 2018

  • How are Executive Board members chosen?

  • Interview with Vítor Constâncio. ECB Vice-President (2011 – 2018)

  • Financial Stability Review - May 2018

  • Vítor Constâncio interview on the Financial Stability Review - May 2018

  • How does the euro help Europeans do business?

  • What is ethical hacking?

  • Generation €uro Students' Award 2018

  • Communications challenges for policy effectiveness, accountability and reputation

  • Meeting the #EuroVideoChallenge finalists at the award ceremony

  • What is TARGET Instant Payment Settlement (TIPS)?

  • #ECBYouthDialogue - Dublin, Ireland

  • Highlights ECB Forum on Central Banking 2017

  • #ECBYouthDialogue - Lisbon 2017

  • Interview Vítor Constâncio on Financial Stability Review

  • EU Open Days - May 2017

  • Generation €uro Students' Award 2017

  • The new €50 banknote is now in circulation

  • How quantitative easing works

  • 15 years of the euro

  • Inside the Asset Purchase Programme

  • ECB and the Eurosystem explained in 3 min.

  • ECB Press Conference - 25 October 2018

  • European Cultural Days - 25 September 2018

  • Visit of German Federal President Steinmeier to the ECB - 26 Sep 2018

  • ECB Press Conference - 13 September 2018

  • New €100 & €200 - Security features

  • Estonian Art Vernissage - 27 June 2018

  • ECB Forum on Central Banking - 18/20 June 2018

  • ECB Press Conference - 14 June 2018

  • EU Open Day - 5 May 2018

  • Joint Conference of the European Central Bank and the European Commission - 3 May 2018

  • ECB Press Conference - 26 April 2018

  • Generation €uro Students’ Award - 10 -11 April 2018

  • Luminale: Cross Hatch - 18 March 2018

  • ECB Press Conference - 8 March 2018

  • Central Bank Communications Conference - 14-15 November 2017

  • 2017 #EuroVideoChallenge Award Ceremony in Lyon - 9 November 2017

  • European Cultural Days - 26 October 2017

  • ECB Press Conference - 26 October 2017

  • Inauguration ECB Visitor Centre – 4 October 2017

  • Sendung mit der Maus - 3 October 2017

  • #ECBYouthDialogue, Dublin - 22 September 2017

  • Opening of the Cyprus Contemporary Art Exhibition - 20 September 2017

  • ECB Press Conference - 7 September 2017

  • ECB Press Conference - 20 July 2017

  • #ECBYouthDialogue - 26 June 2017, Lisbon, Portugal

  • ECB Forum on Central Banking - Sintra, Portugal, 26-28 June 2017

  • ECB Press Conference - 8 June 2017, Tallinn

  • EU Open Day in Brussels - 6 May 2017

  • ECB Open Day for women in technical fields - 04 May 2017

  • ECB Press Conference - 27 April 2017

  • The new €50 banknote - 4 April 2017

  • Generation Euro Students' Award - 4/5 April 2017

  • Europe's digital integrated market - 31 January 2017

  • 25 November 2016 UN Orange Day

  • 17 October 2016 Cultural Days Opening Concert

  • 3 October 2016 Türen Auf!

  • Unveiling of the new €50 banknote

  • Young Economists at ECB Forum on Central Banking

  • ECB Main Building

  • Luminale 2016 - ECB's illuminated buildings

  • The international role of the euro, June 2018 - cover image

    The international role of the euro, June 2018

  • Financial integration in Europe, May 2018 - cover image

    Financial integration in Europe, May 2018

  • ECB Legal Conference 2017 - Shaping a new legal order for Europe: a tale of crises and opportunities - cover image

    ECB Legal Conference 2017 - Shaping a new legal order for Europe: a tale of crises and opportunities

  • ECB Forum on Central Banking - Investment and growth in advanced economies - cover image

    ECB Forum on Central Banking - Investment and growth in advanced economies

  • Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments - cover image

    Legal framework of the Eurosystem and the European System of Central Banks. ECB legal acts and instruments

  • Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull - cover image

    Statistics for Economic and Monetary Union. Enhancements and new directions, 2003-12, by Peter Bull

  • The monetary policy of the ECB - cover image

    The monetary policy of the ECB

  • The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field - cover image

    The payment system – payments, securities and derivatives, and the role of the Eurosystem in this field