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  • Speech
    Households’ inflation expectations matter

    Households’ expectations of how prices will evolve have been more stable than those of financial market participants, says Executive Board member Benoît Cœuré. They are also better predictors of future inflation.

22 July 2019 MONETARY POLICY

Press conference on Thursday, 25 July 2019

ECB President Mario Draghi and Vice-President Luis de Guindos explain the Governing Council’s monetary policy decisions and answer questions from journalists.

The press conference starts at 14:30 CET.

23 July 2019 PUBLICATION

Credit standards tightened for loans to firms

The criteria used by banks to approve business loans have tightened amid concerns about the economic outlook, according to the latest euro area bank lending survey. Demand for loans to companies and households has increased and banks’ access to funds has continued to improve.

17/07/2019
Benoît Cœuré: Exchange of views with members of the High Council of Public Finance
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, prior to an informal exchange of views with the High Council of Public Finance, Paris, 17 July 2019
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11/07/2019
Benoît Cœuré: Inflation expectations and the conduct of monetary policy
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at an event organised by the SAFE Policy Center, Frankfurt am Main, 11 July 2019
04/07/2019
Luis de Guindos: Macroprudential policy ten years after the crisis
Keynote speech by Luis de Guindos, Vice-President of the ECB, at the CIRSF Annual International Conference 2019 “Financial Supervision and Financial Stability Ten Years after the Crisis: Achievements and Next Steps”, Lisbon, 4 July 2019
04/07/2019
Philip R. Lane: Welcome address
Welcome remarks by Philip R. Lane, Member of the Executive Board of the ECB, at the ECB conference on “Challenges in the digital age”, Frankfurt, 4 July 2019
01/07/2019
Philip R. Lane: Monetary Policy and Below-Target Inflation
Speech by Philip R. Lane, Member of the Executive Board of the ECB, at the Bank of Finland conference on Monetary Policy and Future of EMU

All speeches

09/07/2019
Philip R. Lane: Q&A on Twitter
Interview on Twitter with Philip R. Lane, Member of the Executive Board of the ECB, conducted and published on 9 July 2019
08/07/2019
Benoît Cœuré: Interview with BFM Business TV
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Hedwige Chevrillon, published on 9 July 2019
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02/07/2019
Philip R. Lane: Interview with Yle
Interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Aapo Parviainen and broadcast on 1 July 2019
17/06/2019
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 2019
15/06/2019
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 2019
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All interviews

18/07/2019
Opinion on the conversion of Swiss franc loans (CON/2019/27)
Slovenia, 
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11/07/2019
Guideline of the ECB of 10 July 2019 on the Euro Short Term Rate (€STR) (ECB/2019/19)
09/07/2019
Opinion on the payment of funds to uninformed holders of subordinated bonds and minority shareholders who held shares in banks in which the Republic of Slovenia had a majority shareholding affected by Banka Slovenije’s extraordinary measures (CON/2019/26)
Slovenia, 
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08/07/2019
Opinion on national legislation to be adopted for the purpose of establishing close cooperation between the ECB and Hrvatska narodna banka (CON/2019/25)
Croatia, 
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24/06/2019
Opinion on the ownership structure of Banca d’Italia and the ownership of gold reserves (CON/2019/23)
Italy, 
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All legal acts

Young economists’ competition 2019
19 June 2019 #ECBFORUM

Young economists’ competition 2019

A group of young economists joined our Forum on Central Banking in Sintra, Portugal. They presented their research to policymakers, academics and other participants. The prize for the best research poster was awarded to Leslie Sheng Shen – a PhD student from the United States.

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.

EXPLAINER

All you need to know about benchmark rates

Interest rate benchmarks are a key part of our economy. But what is it exactly that makes them so important? Why are they currently undergoing reforms? And what is the €STR?

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 1.1173
JPY Japanese yen 120.82
GBP Pound sterling 0.89830
CHF Swiss franc 1.0985
Last update: Tuesday, 23 July 2019 Euro foreign exchange rates

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