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24 January 2020 BANKNOTES

The euro: a safe and trusted means of payment

The number of counterfeit euro banknotes withdrawn from circulation remained low in the second half of 2019, and the quality of some of the counterfeits has decreased. While you are very unlikely to receive a fake, it is important to always check your banknotes using the “feel, look and tilt” method.

23 January 2020 MONETARY POLICY

ECB launches strategic review

The review of the ECB’s monetary policy strategy will be guided by two principles: thorough analysis and open minds, and the Eurosystem will engage with all stakeholders throughout the process.

The review is expected to be concluded by the end of the year.

24/01/2020
Results of the Q1 2020 ECB Survey of Professional Forecasters
24/01/2020
Euro banknote counterfeiting remained low in the second half of 2019
23/01/2020
ECB launches review of its monetary policy strategy
23/01/2020
Monetary policy decisions
21/01/2020
Consolidated financial statement of the Eurosystem as at 17 January 2020

All press releases

23/01/2020
Christine Lagarde: How can a united Europe meet the challenges it faces today?
Opening remarks by Christine Lagarde, President of the ECB, during a dinner on "Uniting Europe" at the World Economic Forum
23/01/2020
Christine Lagarde, Luis de Guindos: Introductory statement to the press conference (with Q&A)
Christine Lagarde, President of the ECB, Luis de Guindos, Vice-President of the ECB, Frankfurt am Main, 23 January 2020
16/01/2020
Christine Lagarde: Frankfurt and Europe in a new decade
Speech by Christine Lagarde, President of the ECB, at the New Year’s Reception of the City of Frankfurt, 16 January 2020
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09/01/2020
Isabel Schnabel: Mehr Europa für eine stabile gemeinsame Währung
Vortrag von Isabel Schnabel, Mitglied des Direktoriums der EZB, beim Rotary Club Mainz-Rheinhessen, Mainz, 9 Januar 2020
09/01/2020
Philip R. Lane: Policy Frameworks and Strategies for an Open Economy
Presentation by Philip R. Lane, Member of the Executive Board of the ECB, at the Bank of England Workshop on "The Future of Inflation Targeting" in London, 9 January 2020

All speeches

08/01/2020
Christine Lagarde: Interview with “Challenges” magazine
Interview with Christine Lagarde, President of the ECB, by Pierre-Henri de Menthon and Sabine Syfuss-Arnaud
English
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16/12/2019
Benoît Cœuré: Interview with Libération
Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Jean Quatremer on 4 December, and published on 16 December 2019
English
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16/12/2019
Christine Lagarde: Interview with NOS Nieuwsuur
Transcript of the interview with Christine Lagarde, President of the ECB, conducted by Mariëlle Tweebeeke, NOS Nieuwsuur, on 12 December 2019 and broadcast (in part) on 12 December 2019
English
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02/12/2019
Luis de Guindos: Interview with El Mundo
Interview with Luis de Guindos, Vice-President of the ECB, conducted by Pablo Rodríguez Suanzes on 25 November 2019
English
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23/11/2019
Philip R. Lane: Interview with Sky TG24
Transcript of the interview with Philip R. Lane, Member of the Executive Board of the ECB, conducted by Alessandro Marenzi, Sky TG24, with the participation of Federico Fubini, Corriere della Sera, and Franco Bruni, Bocconi University, broadcast on 23 November 2019

All interviews

21/01/2020
Recommendation of the ECB of 17 January 2020 on dividend distribution policies  (ECB/2020/1)
14/01/2020
Opinion on the recovery and resolution of central counterparties (CON/2020/3)
Germany, 
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08/01/2020
Opinion on measures limiting macroprudential risks in residential property loans  (CON/2020/1)
Germany, 
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07/01/2020
Opinion on national defence (CON/2020/2)
Estonia, 
ENGLISH
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30/12/2019
Opinion on limitations to cash payments  (CON/2019/46)
The Netherlands, 
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All legal acts

21 January 2020 PUBLICATION

January 2020 bank lending survey results

Credit standards for loans to firms and housing loans remained broadly unchanged in Q4 2019, the latest euro area bank lending survey shows. Demand for loans to firms went down while demand for housing loans increased further. Euro area banks also reported using TLTRO-III liquidity largely for granting loans.

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.

PODCAST

Supervising banks: profits, transparency and Brexit

Why do we need banking supervision at the European level? What are the supervisory challenges posed by Brexit? Our host Michael Steen talks about these questions and more with Andrea Enria, Pien van Erp Taalman Kip and Linette Field. Listen, subscribe and let us know what you think!

Interest rates

Marginal lending facility 0.25 %
Main refinancing operations (fixed rate) 0.00 %
Deposit facility − 0.50 %
Effective from 18 September 2019

Inflation rates

Full inflation chart
Inflation dashboard

Reference rates

USD US dollar 1.1091
JPY Japanese yen 121.50
GBP Pound sterling 0.84498
CHF Swiss franc 1.0734
Last update: Thursday, 23 January 2020 Euro foreign exchange rates

Multimedia

  • Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

    Christine Lagarde, President of the ECB, signing the euro banknotes, 28 November 2019

  • ECB Governing Council Press Conference - 12 December 2019

    ECB Governing Council Press Conference - 12 December 2019

  • The ECB explains: crypto-assets

    The ECB explains: crypto-assets

  • ECB Forum on Central Banking 2019

    ECB Forum on Central Banking 2019

  • Download the ECB Art App

    Download the ECB Art App

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

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

  • Euro Banknotes – Our Money, Our Journey

    Euro Banknotes – Our Money, Our Journey

  • Unveiling of the New 100 and 200 Euro Banknotes

    Unveiling of the New 100 and 200 Euro Banknotes

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

    20 years of ESCB statistics: What's next?

  • ECB Interview with Cornelia Holthausen

    ECB Interview with Cornelia Holthausen

  • New signature for euro banknotes - 28 November 2019

  • Christine Lagarde's Keynote Speech - European Banking Congress 2019

  • Farewell President Draghi - 28 October 2019

  • ECB Conference on Gender and Career Progression - 21 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

  • ECB Press Conference - 24 October 2019

  • European Cultural Days of the ECB: Museumssalon - October 23 2019

  • European Cultural Days -10 October 2019

  • Sendung mit der Maus Tag der offenen Tür - 3 October 2019

  • ECB Press Conference – 12 September 2019

  • 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

  • Price and wage-setting in advanced economies - cover image

    Price and wage-setting in advanced economies

  • ESCB Legal Conference 2018 - cover image

    ESCB Legal Conference 2018

  • 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