The Russian invasion of Ukraine is a turning point for Europe. The Governing Council expresses its unconditional support for the people of Ukraine. The Governing Council will ensure adequate liquidity conditions and implement the sanctions agreed by the European Union and European governments. It will also take all necessary measures to fulfil the price stability […]
ECB to stop buying debt in March
On February 3, the Governing Council confirmed the decisions taken at its monetary policy meeting last December, among which it will maintain interest rates and stop buying public debt by the end of March of this year. In the first quarter of 2022, the Governing Council is making net asset purchases under the PEPP at […]
New green policies for companies and banks
Firms and banks to be severely affected if climate change issues not addressed Orderly and swift transition to minimise costs and maximise benefits outweighs short-term cost of transition to zero-carbon economy over medium to longer term Investment in sectors and regions heavily exposed to climate risk set to suffer most The European Central Bank (ECB) […]
European Central Bank: Monetary policy decisions
The Governing Council of the ECB took the following monetary policy decisions: The conditions on the targeted longer-term refinancing operations (TLTRO III) have been further eased. Specifically, the Governing Council decided to reduce the interest rate on TLTRO III operations during the period from June 2020 to June 2021 to 50 basis points below the […]
The European Commission welcomes the cooperation agreement concluded between the European Central Bank, the Eurosystem and Sveriges Riksbank
The European Commission welcomes the cooperation agreement concluded on 3 April 2020 between the European Central Bank (ECB), the Eurosystem and Sveriges Riksbank which will allow settlement of instant payments in Swedish krona in the TARGET Instant Payment Settlement (TIPS). The Commission shares with the ECB the objective of fostering the development by European payments […]
ECB announces €750 billion Pandemic Emergency Purchase Programme (PEPP)
The Governing Council decided the following: To launch a new temporary asset purchase programme To launch a new temporary asset purchase programme of private and public sector securities to counter the serious risks to the monetary policy transmission mechanism and the outlook for the euro area posed by the outbreak and escalating diffusion of the […]
Monetary policy decisions
The Governing Council decided on a comprehensive package of monetary policy measures: Longer-term refinancing operations Additional longer-term refinancing operations (LTROs) will be conducted, temporarily, to provide immediate liquidity support to the euro area financial system. Although the Governing Council does not see material signs of strains in money markets or liquidity shortages in the banking […]
ECB announces operational precautions linked to coronavirus
All non-essential travel by ECB Executive Board and staff members restricted until 20 April 2020 Conferences at the ECB postponed, with exception of monetary policy press conferences All non-essential visits including visitor group programme suspended The Executive Board of the European Central Bank (ECB) today announced a range of operational measures that it is taking […]
Statement by the President of the ECB about Covid-19
Statement by Christine Lagarde The coronavirus outbreak is a fast developing situation, which creates risks for the economic outlook and the functioning of financial markets. The ECB is closely monitoring developments and their implications for the economy, medium-term inflation and the transmission of our monetary policy. We stand ready to take appropriate and targeted measures, as […]