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How does the Governing Council of the ECB manage monetary policy?
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What does the revised monetary policy strategy mean for the ECB?
Our monetary policy influences how much you have to pay to borrow and how much interest you receive on your savings. We steer interest rates with the aim of achieving price stability in the euro area. Find out how our tools and measures work. More information on our tools. Monetary operations.
- Strategy
The ECB’s monetary policy strategy provides a comprehensive...
- Economic, Monetary and Financial Developments
It is published eight times a year, two weeks after each...
- Monetary Policy Decisions
Monetary policy decisions Schedule of Governing Council...
- The Eurosystem's Instruments
When a central bank gives forward guidance, it is providing...
- About
The ECB is the central bank of the European Union countries...
- Open Market Operations
We use open market operations to steer interest rates, to...
- Monetary Policy Accounts
The accounts cover the monetary policy meetings of the...
- Our Response to Coronavirus
Extraordinary times require extraordinary action. There are...
- Media
Monetary policy press conference. Monetary policy...
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Overview of monetary policy and markets. Quick links. What...
- Strategy
- Primary Objective
- What Does Monetary Policy do?
- The ECB's Monetary Policy Strategy
- Decisions and Implementation
- Monetary Policy Tools
- The Treaty
The primary objective of the ECB’s monetary policy is to maintain price stability. This means making sure that inflation – the rate at which the prices for goods and services change over time – remains low, stable and predictable. To succeed, we seek to anchor inflation expectations and influence the “temperature” of the economy, making sure the co...
The primary monetary policy instrument is the setting of ECB policy rates, which influence financing conditions and economic developments, thereby contributing to keeping inflation at the ECB’s target level.
The ECB’s monetary policy strategy provides a comprehensive framework within which we take our monetary policy decisions and communicate them to the public.
Each monetary policy decision by the Governing Council is based on an assessment of the monetary policy stance. The assessment of the monetary policy stance determines whether monetary policy is contributing to economic, financial and monetary developments in a way that maintains price stability over the medium term. The appropriate monetary policy...
To help keep prices stable, we need to have the right tools available. Think of a toolbox full of different tools that are used, also in combination, to help us steer inflation. Interest rates are the primary instrument that we use for our monetary policy. In recent years we have added new instruments to our toolbox in response to big changes and l...
Our mandate is laid down in the Treaty on the Functioning of the European Union, Article 127 (1). The Treaty adds that “without prejudice to the objective of price stability”, the ECB shall also support the general economic policies in the EU with a view to contributing to the achievement of the Union’s objectives as laid down in Article 3 of the T...
Jul 8, 2021 · A monetary policy strategy serves two main purposes: first, it provides policymakers with a coherent analytical framework that maps actual or expected economic developments into policy decisions; second, it serves as a vehicle for communicating with the public.
ECB monetary policy: Strategic review. BRIEFING. ECB monetary policy: Strategic review. SUMMARY. In July 2021, the European Central Bank (ECB), the central bank of the 19 European Union countries that have adopted the euro, completed its first monetary policy strategic review for 18 years.
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The European Central Bank (ECB) manages the euro and frames and implements EU economic & monetary policy. Its main aim is to keep prices stable, thereby supporting economic growth and job creation. What does the ECB do?
The European Central Bank (ECB) is the central institution of the Economic and Monetary Union, and has been responsible for monetary policy in the euro area since 1 January 1999. The ECB and all EU national central banks constitute the European System of Central Banks (ESCB). The primary objective of the ESCB is to maintain price stability.
European monetary policy. The European System of Central Banks (ESCB) comprises the ECB and the national central banks of all the EU Member States. The primary objective of the ESCB is to maintain price stability.
